Planet 13 Holdings will acquire Next Green Wave Holdings, as such gaining that company's cultivation and production techniques and capabilities.
“This announcement is an extension of the strategy we’ve laid out for investors of adding cultivation and production in California to vertically integrate and bring our popular brands into the state. We are methodically expanding our footprint to drive topline growth and improved profitability,” said Bob Groesbeck, Co-CEO and Co-founder of Planet 13.
“This is an exciting day for Next Green Wave shareholders. Planet 13 has proven its ability to run incredibly productive retail locations and create manufactured products that command a significant share of sales in their home state of Nevada,” said Mike Jennings, CEO of Next Green Wave. “They are a perfect fit for Next Green Wave, and being a part of their attractive growth profile and expansion in Illinois and Florida is the correct next step for NGW.”