JARS CANNABIS COMPLETES ACQUISITION OF EUFLORA, EXPANDING RETAIL FOOTPRINT IN COLORADO
Transactions Increase JARS Cannabis' Retail Footprint to Service 700,000+ Customers across 25+ Locations in the U.S.
DETROIT, March 14, 2023 /PRNewswire/ -- JARS Cannabis, a privately held, multi-state operating cannabis brand and retailer, today completed its previously announced acquisition of Euflora, a premier collective of boutique recreational marijuana dispensaries in Colorado. With the addition of one greenhouse and six recreational storefronts to its portfolio, the strategic move further solidifies JARS Cannabis' position as a leading purveyor of affordable and accessible cannabis products in the nation's second and third largest cannabis markets.
"We are pleased to announce that JARS Cannabis has successfully completed the acquisition of Euflora, said JARS Cannabis Managing Partner, Scott Rybicki. "As a pioneer that has been shaping the Colorado cannabis market since 2014, Euflora established a reputation for innovation and customer satisfaction over the past eight years. With this acquisition, we look forward to leveraging our teams' strengths to build upon that legacy and introduce new experiences to the Colorado cannabis community and beyond."
Increasing retail operations to include a total of 26 storefronts, JARS Cannabis is positioned to serve 700,000+ customers in three markets across the US, including Arizona, Colorado, and Michigan.
Transaction Highlights and Benefits
- A combined workforce of 780+ employees
- A combined loyalty base of 700,000+ customers
- Addition of 6 recreational storefronts, increasing retail portfolio to 26 storefronts nationwide
- One 7,200-square-foot greenhouse
- Expanded product availability and offerings to feature a combination of 250+ brands and over 6,000 product SKUs across various categories and price points
In celebration of the completed acquisition, JARS Cannabis invites customers and surrounding neighbors to attend a grand opening event and ribbon-cutting ceremony commencing at JARS Southlands in Aurora, Colorado on Tuesday, March 21st, 2023. Community-focused, the cannabis retailer is eager to immerse itself in the Aurora community and looks forward to establishing partnerships with local organizations that will enable JARS to give back and support community development initiatives.
John Kenny from Taft Stettinius & Hollister LLP acted as legal counsel to both JARS Cannabis and Euflora on the transaction.
ABOUT JARS CANNABIS
JARS Cannabis is a privately held, multi-state operating cannabis brand and retailer with a portfolio of recreational storefronts in Arizona, Colorado, and Michigan. Headquartered in Troy, Michigan, JARS established operations in 2020 and has grown to collectively operate one greenhouse, one indoor cultivation center, and 26 retail storefronts across the US, while offering approximately 6,000 product SKUs from more than 250 emerging and established cannabis brands of various categories and price points. As a culturally inspired organization, JARS is on a mission to rewrite the existing narratives that surround cannabis and seeks to empower the future leaders of our industry while creating an inclusive environment that is fueled by celebrating the intersection of cannabis with creativity, community, and collaboration. Employing a community-focused approach, JARS Cannabis is committed to providing the highest quality of products, with the widest variety of options, at prices people can afford, ensuring the integration of cannabis into any lifestyle is both easy and approachable. For more information, visit www.jarscannabis.com.
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements based on current expectations, forecasts, and assumptions of [JARS/Other Companies Associated With Press Release] ("Company") that are subject to risks and uncertainties. The forward-looking statements in this press release are based on information available to the company as of the date hereof. Use of the words "anticipates," "believes," "estimates," "expects," "intends," "projects," "plans," "potentially" and similar expressions contained herein are intended to identify forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievement to be materially and adversely different from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, risks related to the cannabis industry, general and local economic conditions, competition, natural disasters, market, and other risks commonly associated with the cannabis industry. All of these forward-looking statements are based on estimates and assumptions made by the company which, although believed to be reasonable, are inherently uncertain. Therefore, no assurance or warranty can be given that any of such estimates or statements will be realized, and actual results may differ materially and adversely from those contemplated by such forward-looking statements. The company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or circumstances, or otherwise.
PRESS CONTACT
Ally Galanty
[email protected]
313.575.0361
SOURCE JARS Cannabis
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