Unrivaled Brands has transformed into a Blüm Holdings subsidiary in the face of industry challenges with the help of Adnant Consulting.
Sabas Carrillo, Adnant's CEO, undertook the role of interim CEO at Unrivaled Brands and led the company through a reduction in debt and a revitalized operating strategy. In a challenging market environment, Adnant's approach resulted in a 41% decrease in Unrivaled's liabilities, dropping from $120.7M to $71.1M.
This strategic overhaul culminated in the successful completion of a corporate reorganization and a reverse stock split. As of January 12, 2024, Blüm Holdings emerged as the parent company of Unrivaled, marking a watershed moment in the company's journey toward growth.
"We are thrilled to witness the fruits of our engagement with Unrivaled Brands. The team's dedication and expertise in the cannabis industry have once again proven pivotal in advancing the interests of a key cannabis player," said Sabas Carrillo, CEO of Adnant. "The reorganization and newly traded public company Blüm Holdings symbolizes a renewed commitment to innovation, operational excellence, and strategic growth. This success story serves as a testament to our capability to navigate and rectify complex financial and operational challenges."
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