Two long-running Oregon companies are banding together to diversify their marijuana and hemp product 0fferings and strengthen their position in a state market that’s dealing with significant obstacles, including overproduction and depressed wholesale market prices.
East Fork Cultivars said in a news release this week that it has officially joined forces with longtime collaborative partner Peak Extracts.
No financial terms were announced.
But, under the arrangement, Peak Extracts founder Katie Stem joins East Fork as company president and as a board member.
The merger “boosts the ability of two independent, values-aligned craft brands to compete in a time of increasing corporatization of the cannabis industry,” according to the release.
East Fork CEO Mason Walker said in a statement that the companies’ “union boosts the range of our cannabis talent and greatly expands our in-house product-making capabilities.”
East Fork is a craft marijuana and hemp breeder, cultivator and product maker.
The Takilma-headquartered company produces sun-grown plants using regenerative methods and holds Sun+Earth Certified and USDA Organic certifications.
Peak Extracts, based in Portland, has been a cannabis extractor and product maker since 2014.
