Joint Venture Nursery Formed Between LEEF Brands Inc. and Lifted Organics
LEEF Brands Inc. and Lifted Organics join together to form a joint venture nursery.
A recent press release discussed LEEF Brands Inc. and Lifted Organics formation of a joint venture nursery (1). LEEF Brands Inc., a vertical cannabis operator, and Lifted Organics, will each have an equal 50% portion of ownership in their joint enterprise. Both businesses are excited for this next step and to grow “their cultivation efforts” (1). Lifted Organics and LEEF Brands Inc. have named the joint venture nursery, 1PN Nursery. It is located in Watsonville, California, near where Lifted Organics has growing operations.
Through this joint cultivation strategy, both companies are able to utilize a nursery in-house. This will help LEEF Brands Inc. and Lifted Organics lower costs, as well as, develop their “genetic offerings” (1). The press release stated (1), “Customer acquisition and retention is highly dependent on offering a compelling, diversified, and exclusive strain menu which this joint venture will provide for LEEF’s concentrates customers and Lifted’ s fresh frozen customers.”
“Genetic selection and propagation are some of the toughest challenges facing large scale, outdoor cannabis cultivators,” Aziz Nashat, owner and founder of Lifted Organics, explained (1). “In addition to reducing the cost of plants, we will no longer have to compete with other large-scale growers for strains and delivery dates or plant the same strains as those farms. Bringing nursery operations in house will allow both companies to offer clients a selection of strains that can be requested by or exclusive to those clients. This will set us apart from our competition.”
“I am excited to see LEEF realize the benefits of a more vertical supply chain and, above all, to witness the alignment of a like-minded team dedicated to supporting the future success of this monumental project,” Micah Anderson, CEO of LEEF Brands Inc., said (1).
With the establishment of a joint venture nursery, both of these companies are helping to grow the cannabis industry further.
Reference
- LEEF Brands Inc. Leef Brands Inc. and Lifted Organics Forge Strategic Joint Venture Nursery https://www.globenewswire.com/news-release/2024/02/08/2825883/0/en/LEEF-Brands-Inc-and-Lifted-Organics-Forge-Strategic-Joint-Venture-Nursery.html (accessed Feb 12, 2024).
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