US (NJ): Acreage completes Egg Harbor facility expansion

Acreage has completed its infrastructure expansion at its facility in Egg Harbor Township, New Jersey. The multi-faceted cultivation and processing upgrades support the ongoing demand for products at both the retail and wholesale levels, as well as the broadening of the Company’s brand and product offerings in the burgeoning New Jersey market. Additionally, with the expansion, the Company expects to increase headcount by approximately 15% at the facility as of Q1 2024.

“We are absolutely thrilled to have completed the expansion of our Egg Harbor Township facility,” said Sharon Ali, Executive Vice President Mid-Atlantic Region at Acreage. “New Jersey is one of our cornerstone markets, where we continue to bolster our position as a leading operator in the state. These enhancements are timely, as the state continues to present a tremendous opportunity for the expansion of our in-house brand product suite. Demand for our wholesale and retail offerings in New Jersey has remained persistent, as demonstrated by our record month of wholesale sales in August. This new capacity enables us to produce a larger and more diversified offering for two of the most popular segments in the market – premium flower and edibles – as well as top-selling concentrates for Superflux, which are anticipated to reach consumers by year-end.”

Ali concluded, “With our expanded canopy, new genetics, and a wider breadth of extraction and processing capabilities, we will increase our competitive position in the state. These leading-edge upgrades position us strongly to meet the high market demand, and we expect to launch new, innovative products across a range of formats to New Jersey consumers in the first half of 2024.”