Michigan-based private company JARS Cannabis is buying Colorado-based Euflora LLC for an undisclosed amount. The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the fourth quarter.
The deal includes one cultivation center and greenhouse, along with six recreational storefronts to its portfolio. JARS said the deal will increase its retail operations to include a total of 26 storefronts across three states and solidify its positioning as a leading purveyor of affordable and accessible cannabis products in the nation’s second- and third-largest cannabis markets.
“Since the inception of JARS Cannabis, it has been our mission to deliver only the highest quality of products and service to our community and customers,” said JARS Cannabis COO Raymond Abro. “In this evolving industry, the move to acquire Euflora demonstrates a strategic opportunity for JARS to service new customers as we continue to expand our retail footprint across the nation, while aiming to create new jobs and increase access to affordable and accessible recreational cannabis products for all.”
Ronnie Kassab is listed as the company’s CEO according to ZoomInfo.
The acquisition will create a combined workforce of 670 employees, and a combined loyalty base of more than 290,000 customers. The cultivation facility is a 7,200-square-foot cultivation center and greenhouse facility. The combined company will also create an expanded product availability and offerings to feature a combination of more than 250 brands and 6,000 product SKUs across various categories and price points.
JARS currently has four locations in Arizona and 15 stores in Michigan. Five more stores are planned for Michigan, according to the company’s website.
“We are pleased to join forces with JARS Cannabis to pursue a shared vision for the future of cannabis retail through sustainable expansion in core recreational markets,” said Euflora COO Scott Rybicki. “Today marks a transformative moment in the evolution of Euflora, and we anticipate this acquisition will drive significant leadership, operational, and retail opportunities amongst both parties to better meet the varying needs of our combined staff and loyal customer base.”