Standard Wellness Expands Dispensary Network with New Acquisition
Standard Wellness Enhances Presence with Greenstock Acquisition
Standard Wellness Holdings, LLC, a top-tier vertically integrated cannabis enterprise, recently shared exciting news regarding its growth trajectory in the cannabis industry. The company has officially acquired GreenBud, LLC, operating under the name Greenstock, which is a licensed dispensary. This acquisition elevates Standard Wellness's count of operational dispensaries in the region to four, reinforcing its influential role in the rapidly developing cannabis market.
Strategic Growth and Expansion Plans
This acquisition is not just a mere expansion; it represents a well-thought-out strategy to bolster the company's retail footprint. With the integration of the new location, Standard Wellness is not only enhancing its service capabilities but is also poised to enter four additional markets in the near future. Plans are underway to establish four more dispensaries over the next year and a half, a clear indication of the company’s commitment to delivering safe and accessible high-quality cannabis products to the community.
CEO’s Vision for the Future
Jared Maloof, the CEO of Standard Wellness, expressed enthusiasm about welcoming the Greenstock team into the family. He emphasized that this acquisition is a pivotal addition to their ongoing strategy, which targets broader community engagement in Ohio. The vision includes creating a strong network based on exceptional customer service and access to premium products. As part of this endeavor, plans for a drive-thru facility are in the works, set to be unveiled for public use soon.
Financial Insights and Advisory Support
In terms of financial logistics, SSC Advisors played a crucial role as financial consultants, guiding Standard Wellness through the acquisition process. Moreover, legal counsel was provided by Tom Haren from the firm Frantz Ward, ensuring that all regulatory requirements were met effectively during the transition.
About Standard Wellness Holdings, LLC
Standard Wellness, established in 2017, operates extensively not only in Ohio but across Missouri and Utah as well. Their mission centers around ensuring legal and safe access to cannabis for both medical and recreational users. The company boasts seven retail locations under The Forest brand and is recognized for its pioneering contributions, including facilitating the first legal sale of cannabis in Ohio via its The Forest Sandusky dispensary.
Commitment to Quality and Community
The organization prides itself on a dedicated workforce of around 325 employees who are passionate about improving the quality of life for patients and customers. By focusing on quality service and product availability, Standard Wellness retains a solid reputation in the cannabis sector.
Frequently Asked Questions
What is the significance of the Greenstock acquisition for Standard Wellness?
The acquisition symbolizes Standard Wellness's commitment to expansion and enhances its operational footprint in the Ohio cannabis market, contributing to more significant consumer access.
Who provided financial and legal advisory support during the acquisition?
SSC Advisors served as the financial advisor, while legal counsel was provided by Tom Haren from Frantz Ward to ensure adherence to legal standards.
How many dispensaries does Standard Wellness operate now?
With the recent acquisition, Standard Wellness now operates four dispensaries in Ohio, with plans to grow its presence further.
What are the future plans for Standard Wellness after the acquisition?
Future plans include opening four additional dispensaries over the next year and a half, enhancing their service options and accessibility for patients.
What is the mission of Standard Wellness Holdings, LLC?
The mission centers on providing safe and legal access to cannabis products for both medical and recreational use, aiming to improve quality of life across its operational regions.
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