Green Growth Brands Completes Acquisition of Second The+Source Location
Location has been under GGB management since December 2018
COLUMBUS, OH, Aug. 28, 2019 /PRNewswire/ - Green Growth Brands Inc. (CSE: GGB) (OTCQB: GGBXF) ("GGB" or "the Company") is pleased to announce the closing of its acquisition of Henderson Organic Remedies, LLC (The+Source Henderson), which was previously disclosed on December 14, 2018. The+Source Henderson is the second The+Source dispensary operated by GGB in greater Las Vegas. The productivity of The+Source Henderson is similar to that of The+Source Las Vegas.
"The+Source Henderson has been under our management for the last nine months," said Peter Horvath, CEO of Green Growth Brands. "In that time, we have grown revenue, transactions and gross margin by double digits. Our ability to significantly improve top performing dispensaries, in a market that has seen a significant uptick in competition, is a testament to our expertise in retail operations."
The formal acquisition of the company brings GGB's Las Vegas assets to two The+Source locations, one production facility, two cultivation facilities, and seven licenses to operate dispensaries awarded by the Nevada Department of Taxation.
About Green Growth Brands Inc.
Green Growth Brands creates remarkable experiences in cannabis and CBD. Led by CEO Peter Horvath and a leadership team of consumer-focused retail experts, the company's brands include CAMP, Seventh Sense Botanical Therapy, The+Source, Green Lily, and Meri + Jayne. The Company also has a licensing agreement with the Greg Norman™ Brand to develop a line of CBD-infused personal care products designed for active wellness. Already driving the strongest sales per square feet in the cannabis industry, GGB is expanding its cannabis operations throughout the U.S., its CBD presence at ShopSeventhSense.com, in malls across the country, at DSW and Abercrombie & Fitch stores—and coming to American Eagle stores soon. Learn more about the vision at GreenGrowthBrands.com.
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SOURCE Green Growth Brands
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