Last Updated on by Aardvark
Glass House Brands Inc (GLASF), one of the fastest-growing, vertically-integrated cannabis companies in the U.S., and Plus Products Inc. (“PLUS”) announced that Glass House has completed the acquisition of the business of PLUS, a leading cannabis edibles company based in California.
Glass House Brands acquired PLUS for approximately $25.6 million through a combination of unsecured convertible debt and equity, plus additional performance-based consideration.
“With a mission to create the largest cannabis brand-building platform in California, we are thrilled to announce the closing of our PLUS acquisition, positioning Glass House as the only company with a top 5 position in both the Flower and Edibles segments in the California market. Edibles are a key component of our growth strategy as we further expand our product portfolio and build stronger brand awareness. We are incredibly excited to begin our work with the PLUS team to expand the presence of their premium products in our own retail stores and across our distribution network.” – said Kyle Kazan, Glass House’s Chairman and Chief Executive Officer.