Grown Rogue has closed the acquisition with a subsidiary of Acreage Holdings for a state-of-the-art 30,000 Sq Ft indoor facility located in Medford, Oregon. The acquisition, which closed on April 14, 2022, brings Grown Rogue’s total indoor production capacity, including the Golden Harvests, LLC assets in Michigan, to 127,000 Sq Ft.
“We are pleased to complete the closing of this strategic asset which has allowed us to solidify our position as the #1 flower producer in Oregon1” said Obie Strickler, Chief Executive Officer of Grown Rogue. “This indoor facility resulted in us tripling our indoor production in Oregon during 2021, as we operated under a management services contract, and with a full year of operations positions us to hit our $20M revenue run-rate target in 2022 with a 30 to 40% EBITDA margin. The facility is located within five minutes of our existing Grown Rogue facility and the proximity has allowed us significant economies of scale, resulting in our industry leading cost structure. With all retrofits completed and implementation of our proprietary operating procedures, we have seen flower yields and quality consistently exceed our forecasts."