M&A News: Cannabis One and ONE Cannabis Unite, Primed to Transform the Future of Cannabis
Cannabis’ “House of Brands” and U.S. Cannabis Dispensary Franchisor Form a Definitive Arrangement Agreement to Combine Businesses
DENVER - (BUSINESS WIRE) - December 11, 2019 - Cannabis One Holdings Inc. (CSE: CBIS) (“Cannabis One” or “CBIS”) and ONE Cannabis Group (“ONE”) announced today that they have entered into a definitive arrangement agreement to combine businesses. Both are cannabis leaders in their own right, their combined prowess creates a strong, national force among cannabis retail and product brands alike.
Cannabis One is known for its globally-recognized “House of Brands,” comprised of award-winning products with an extensive market footprint across North America. Meanwhile, ONE Cannabis has paved the way for franchising cannabis dispensaries in the United States with more than a dozen deals signed in new and emerging markets nationwide. Franchise partners utilize the company’s deep network of seasoned experts and turnkey franchise blueprint to enter the complex industry with ease.
“As two Colorado born and bred companies, we’re comprised of industry pioneers who have honed best practices across nearly all areas of cannabis over the past decade. Together, Cannabis One and ONE Cannabis will lead the industry into a truly successful Cannabis 2.0 with our winning combination. Our products and services deliver a level of consistency and quality to cannabis consumers that’s unmatched. Connecting these exceptional performers will usher in a wave of game-changing initiatives for the industry as a whole,” said Jeff Mascio, CEO of Cannabis One.
Together, the Colorado-based companies will be focused on expanding its franchise footprint worldwide, which includes agreements signed for 15 dispensary franchises across five states and multiple corporate dispensaries in the United States. They will also continue offering leading cannabis products, including brands such as Honu, Cheech, Evergreen Organix, INDVR and Green Man Cannabis with a distribution platform of over 900 retail dispensary locations nationally.
“Franchising is the most agile and proven way to scale in the cannabis industry,” said Mike Weinberger, COO of ONE Cannabis, which began its franchise program in 2018. “Our franchisees own and operate their own dispensaries, hire locally and keep money in the communities they serve. The ongoing support and resources we provide allows them to scale more quickly [than having go at it alone]. Cannabis One shares our vision of inspiring confidence in cannabis for all, and we look forward to working together to elevate our brands across North America and beyond.”
Both Cannabis One and ONE Cannabis will be exhibiting at MJBizCon from December 11 to December 13 at booth C2948. ONE Cannabis has been nominated for MJBizDaily’s Cannabis Retailer of The Year award, which will be announced at the MJBizDaily award ceremony at 7 p.m. on December 12.
About Cannabis One
Cannabis One Holdings Inc. (CSE:CBIS) is focused on aggregating and optimizing popular cannabis brands throughout North America. With its unique, franchise-ready retail brand, The Joint™, and through targeted acquisition and partnership opportunities, Cannabis One intends to become the premier, globally-recognized “House of Brands,” holding a client portfolio of award-winning products with an extensive market footprint. Through the Company’s The Joint™ retail concept, Cannabis One intends to leverage the consumer and brand data harvested from its retail locations to bring data-driven analytics to an emerging, branded industry. For consumers, Cannabis One desires to become the definitive source for unparalleled product selection and renowned service in an otherwise fragmented market.
About ONE Cannabis Group
ONE Cannabis Group is a Colorado-based, vertically integrated cannabis company that's making a name for itself as the bridge connecting the two previously disconnected worlds of cannabis and franchising. Across its brands, the company covers several areas of cannabis-related business functions, including franchising, social equity, cultivation, consulting, real estate, retail operations and technology (point of sale). Its award-winning Green Man Cannabis is well-known for its connoisseur-grade craft cannabis and numerous Cannabis Cup wins. Recently, ONE became the first cannabis business to earn a Franchise Times Dealmakers award – a recognition presented to the boldest players driving mergers and acquisitions in franchising. For more information, visit ocginc.com.
Jon Lindsay Phillips
SOURCE ONE Cannabis Group
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