MSO Halo Collective Closes Pistil Point Acquisition in Oregon

The acquisition further expands Halo's cultivation footprint in the Pacific Northwest.

Oregon-based multistate operator Halo Collective (NEO: HALO) (OTCQX: HCANF) (Germany: A9KN) announced Friday that it has closed on the acquisition of a trio of companies that do business as Pistil Point, further expanding its cultivation footprint in the Pacific Northwest.

In an all-stock deal worth $4 million, Halo purchased Decatur One LLC, Bradford Two LLC and Bradford Three LLC, which Halo CEO Katie Field called “a key milestone.”

“With increased ownership of our supply chain, we are better able to meet consumer demand for high quality products while also delivering improved economics for the business,” Field said in a news release.

Field said Halo has concentrated on both diversifying its product portfolio to include outdoor and indoor-grown marijuana flower, as well as solidifying control over its own supply chain.

The company has also ramped up delivery offerings to roughly 70% of Oregon, with a roughly 48-hour window for all deliveries, according to the release, and also expanded into the nutraceutical business.

“All of this is expected to enable the company to expand into new doors and drive growth for Halo,” Field said. “With a renewed localized approach, we see tremendous opportunity.”

Halo posted mostly positive results in its latest quarterly filings, but still lost $11.4 million.

John Schroyer


Agrify

Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 4 days

Thanksgiving is the day do their best work. How else can you eat all day unless you can maximize the munchies?

@GreenMarketRpt – 4 days

The Daily Hit: November 23, 2022

@GreenMarketRpt – 5 days

New York Cannabis Regulators Request Lifting of Retail Injunction

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.