Wonderbrett has announced a cultivation partnership with Cloud Cannabis.
Concurrently, Cloud Cannabis has announced the acquisition of a state-of-the-art 70,000 square foot grow facility. "The acquisition serves as the lynchpin for our new cultivation partnership, wherein Wonderbrett will cultivate their rare genetics and branded products in Michigan," the Cloud Cannabis team explains. "In addition, all aspects pertaining to cultivation at Cloud Cannabis Co. facilities will be led and overseen by Wonderbrett's founders and senior cultivation team."
This structure is that of a true partnership and not a traditional out-of-state licensing deal.
"Cloud Cannabis is the perfect partner for us in Michigan due to their expanding retail footprint, extraction and distribution across the state," said Wonderbrett Co-Founder and famed Breeder Brett Feldman. "This partnership will bring our expertise for the development of craft, small-batch, and artisanal products in California to a full scale market in one of the nation's fastest growing states for recreational cannabis."
"This acquisition provides Cloud with full control over our supply chain, allowing us to provide our customers with the highest quality products and retail experiences, while also optimizing the overall profitability of our operations," said Cloud Cannabis CFO Tyson Macdonald. "With all the pieces in place to distribute best of breed products across the entire Michigan marketplace, we are well positioned to work with the highest quality brands looking to enter the Michigan market. Wonderbrett is an ideal partner for us, a people first organization with the same focus on quality execution at all levels."
Based on July's sales of $171M, Michigan represents an annualized market size of approximately $2.1B, yet the state's supply of flower has been stifled due to a lack of supply. However, in July 2021, Michigan Marijuana Regulatory Agency reported flower sales exceeded $84 Million. This is evidence that the state's cultivation license program has loosened its restrictions in order to support demand, and subsequently allow for strategic partnerships such as Cloud Cannabis Co., and Wonderbrett's to positively impact the market.
For more information:
Cloud Cannabis Co.