California marijuana supplier Indus Holdings expanded its operations to Nevada and Oregon by signing an agreement to acquire the assets of W The Brand, a manufacturer and distributor of marijuana concentrates, cartridges and disposable pens, for $20 million in stock and cash.
Here’s what you need to know:
- Salinas-based Indus will gain a 24,000-square-foot cultivation and processing facility near the Las Vegas Strip with the option to expand the operation to a total of nearly 76,000 square feet, according to a news release.
- The Oregon manufacturing facility that Indus is acquiring is 6,000 square feet, including a warehouse, office and lab. It’s located near downtown Portland.
- The transaction is expected to become final at the end of 2019.
- Indus closed a Series B funding round of $46 million in 2018.