Ghost Drops announced the acquisition of an Ontario-based, federally licensed cannabis production and processing facility.
The acquisition of the 10,000-square-foot facility allows Ghost Drops to continue to perfect Canadian cannabis production with control over its award-winning product while setting up the brand to increase profit, gain market share, and consistently deliver the highest quality to its consumers.
"This acquisition optimizes our operations for further growth and profitability," says Ghost Drops CEO Gene Bernaudo. "Our business strategy has always been about owning the beginning and end of the cannabis supply chain. We've proven that our model works. The acquisition of this license serves to strengthen our position at the end of the chain."
The timing of the acquisition showcases Ghost Drops' readiness to adapt to challenges, stay ahead of the curve, and optimize operations in anticipation of market changes.
"The Ontario Cannabis Store (OCS) recently announced its transition to a flow-through distribution model," Bernaudo says. "We know that succeeding within this new model means controlling 100% of our manufacturing and distribution. So, that's what we've done. Securing this production and processing license gives us complete oversight of when our products are packaged and how they are presented to consumers."
Ghost Drops is now able to package fresher cannabis with precision consistency, manage the processing and distribution of on-demand retailer and consumer purchases, as well as continue to enhance its unique full-service go-to-market brand house platform, The League.
"This asset also allows us to execute The League at the highest level possible," Bernaudo says. "We built The League platform to bring legacy icons and cannabis innovators to the legal market. We're helping them get to market, and we're facilitating every aspect of their successful launch. With this facility, we can offer additional services to these brands and get them to market seamlessly."
With the acquisition of the new production and processing facility, the brand has positioned itself to sell directly to provincial boards, consumers, and retailers. "This license acquisition further enhances Ghost Drops' ambitions to grow the brand and cement its premium reputation in Canada and globally," says Bernaudo.
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