Slang Worldwide Inc., a Canada-based cannabis consumer packaged goods company, said it has agreed to acquire Colorado-licensed cannabis cultivator Pleasant Valley Ranch, LLC. The acquisition is part of Slang’s strategy of consolidating its supply chain in Colorado.
Slang said it will acquire Pleasant Valley for consideration comprised of a non-material amount of cash and common shares of the company. The acquisition will be completed by way of three-cornered amalgamation and is expected to close in the fourth quarter of 2020.
Slang expects the ownership of a cultivation operation will provide it greater assurance of a supply of raw materials in the growing Colorado market, while also enabling it to reduce its input costs and improve gross margins.
Pleasant Valley is a privately-owned company located in Carbondale, Colorado, specializing in organically grown cannabis strains that thrive in high altitude, mountainous environments.
Pleasant Valley has 1,600 square feet of greenhouse…