JARS Cannabis, a privately held, multi-state operating cannabis brand and retailer based in Troy, has entered into a definitive agreement to acquire Euflora, a collective of boutique recreational cannabis dispensaries in Colorado.
“In this evolving industry, the move to acquire Euflora demonstrates a strategic opportunity for JARS to service new customers as we continue to expand our retail footprint across the nation, while aiming to create new jobs and increase access to affordable and accessible recreational cannabis products for all,” says Raymond Abro, COO of JARS.
Adding one cultivation center and greenhouse, along with six recreational storefronts to its portfolio, the completion of the transaction will increase JARS’ retail operations to include 26 storefronts across three states.
Abros says the acquisition creates a combined workforce of 670 employees and a combined customer base of more than 290,000. It also will bring expanded product availability and offerings to feature a combination of more than 250 brands and more than 6,000 products across various categories and price points.
“We are pleased to join forces with JARS Cannabis to pursue a shared vision for the future of cannabis retail through sustainable expansion in core recreational markets,” says Scott Rybicki, COO of Euflora.
“Today marks a transformative moment in the evolution of Euflora, and we anticipate this acquisition will drive significant leadership, operational, and retail opportunities amongst both parties to better meet the varying needs of our combined staff and loyal customer base.”
The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the fourth quarter, subject to the satisfaction of closing conditions.
