The acquisition of the vertically-integrated businesses will further expand the Copperstate Farms retail footprint and portfolio in the Arizona market.
PHOENIX, Nov. 05, 2020 (GLOBE NEWSWIRE) — Copperstate Farms Management, LLC, a vertically integrated cannabis company based in Arizona, has reached an agreement to acquire management rights and control of two Level Up (formerly MedMen Arizona) marijuana licenses and dispensaries in North Scottsdale and Tempe.
The locations include dispensary retail spaces, as well as a 25,000 square-foot cultivation and processing warehouse. The acquisition of the Level Up operations will further expand the Copperstate Farms retail footprint and solidify its market share in Arizona under the Sol Flower banner. This follows the passage of Proposition 207 in the 2020 election, allowing recreational marijuana use and cultivation by adults 21 or older in Arizona.
“We are excited to build upon the strong foundation established by the Level Up owners and team who have placed a premium on quality medicine and customer service. Copperstate Farms sees tremendous value in these locations, which will allow us to further expand our Sol Flower dispensary brand,” stated Copperstate Farms CEO Pankaj Talwar.
A multi-use dispensary concept, Sol Flower features a public-facing classroom and café in Sun City and an additional location in Tempe. With the Level Up acquisitions, Copperstate Farms now controls four retail operations across premiere Valley locations that offer channels to different patient demographics.
“Having solidified our position as the leading wholesale operation in the State of Arizona, we are delighted to begin expanding our retail footprint. Copperstate Farms produces high-quality cannabis at affordable prices for our wholesale customers and retail patients alike,” said Copperstate Farms Managing Director Fife Symington.
Copperstate Farms is home to the largest indoor cannabis facility in the U.S. with 40 acres under glass and is the parent company to multiple product suites including Good Things Coming edibles. The company holds exclusive distribution and manufacturing rights to several top-selling brands, including internationally awarded DNA Genetics, among others.
For more information visit CopperstateFarms.com.
* Copperstate Farms has implemented social distancing and enhanced safety measures at its cultivation facility and Sol Flower dispensaries during the coronavirus (COVID-19) outbreak.
About Copperstate Farms Management, LLC:
Established in 2016, Copperstate Farms Management, LLC, is a vertically integrated cannabis company headquartered in Phoenix, Arizona. The company manages the licensed production and distribution of medical cannabis in the U.S. and operates a 1.7-million-square-foot facility and 40-acre greenhouse grow in Snowflake, Arizona. Copperstate Farms is the parent company of multiple product suites and the dispensary retail concept Sol Flower, which includes a public-facing café and wellness classroom. The multi-use dispensary brand has locations in Tempe and Sun City, Arizona.
Copperstate Farms is dedicated to bringing growth to the local and state economy through the hiring of local laborers, material suppliers, and contractors. For more information, visit CopperstateFarms.com.