- Retail chain store projected to generate estimated $10M annually
- Company CEO calls acquisition “transformative”
- Retail is valued resource for GLH development of product lines, execution on brand messaging
Golden Leaf Holdings (CSE: GLH) (OTCQB: GLDFF), a proven, consumer-driven cannabis company in both the medicinal and recreational marijuana market segments, has signed a letter of intent (“LOI”) to acquire a retail chain in Northwest Oregon, which is forecast to generate an estimated $10 million in annual run rate revenue (https://cnw.fm/Af1Vt).
“The acquisition of this retail chain will be transformative for GLH, as it would further cement us as a leader in the Oregon market,” said Golden Leaf CEO Jeff Yapp. “The company expects this transaction to be accretive on close, as we will achieve tremendous synergy with our effort and current footprint and the introduction of our market-leading Chalice brand products.”
Golden Leaf plans on providing additional details about the transaction once a definitive purchase agreement has been completed. The strategic move aligns with Golden Leaf’s focus on retail, which the company feels is a dynamic and effective tool to truly understand the current state of the marketplace. Golden Leaf looks to its seven Chalice Farms retail stores located throughout the Portland area as invaluable resources for instant customer feedback.
“Our retail stores provide a daily report as to what products are working best and what needs improvement,” the company states. “[Retail] gives us first-hand information about what’s trending in the market and what people are asking for. Retail is a valued resource for our development of product lines and executing on brand messaging.”
From the opening of its first Chalice Farms dispensary, the company has been committed to creating a different experience for consumers. Each location is inviting and warm, with an approach similar to the Apple store model, with products featured on island stations located throughout the store. The design is intended to invite interaction and connection between Chalice Farms personnel and consumers, creating an open atmosphere where questions can be asked, information can be exchanged, and a positive experience will be enjoyed.
Key to that positive experience are Chalice Farms product specialists, who are highly trained in all the products offered at each retail location. Golden Leaf provides ongoing training and education to ensure these friendly company representatives have information necessary to assist a broad range of consumers, from the first-time visitors to the high-end connoisseurs. With a wide array of products that are often updated, informed product specialists are essential to the five-star consumer experience that Golden Leaf is committed to provide.
For more information, visit the company’s website at www.GoldenLeafHoldings.com.
NOTE TO INVESTORS: The latest news and updates relating to GLDFF are available in the company’s newsroom at https://cnw.fm/GLH
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