LOS ANGELES, CA October 14, 2021 Marijuana Company of America, Inc. a diversified company with operations and investments throughout the cannabis industry, today announced that it has completed what it believes to be the most significant acquisition in MCOA’s history with the acquisition of VBF Brands, Inc.,
VBF is a fully licensed marijuana cultivator and distributor based in Salinas, California and was previously a wholly owned subsidiary of Sunset Island Group, Inc. MCOA expects that the acquired subsidiary should be significantly accretive to the Company’s topline revenue and EBITDA expectations for 2022. This newly acquired wholly owned subsidiary will immediately work towards increasing production at its current Salinas facility that also offers exponential growth potential with other nearby properties that MCOA has an option to participate in as part of the acquisition. California continues to be the world’s largest legal cannabis market, and offers tremendous market potential for MCOA with this acquisition that includes cannabis nursery, cannabis manufacturing/distribution and cultivation licenses.
Jesus Quintero, CEO of Marijuana Company of America, Inc. stated, “The acquisition of VBF Brands, Inc. perfectly encapsulates MCOA’s strategy to expand our business by organic growth and acquisitions of synergistic and often undercapitalized distressed assets existing today in the Cannabis industry. We are confident that by providing this entity with capital and operational depth to the already impressive operations will increase the capacity, and greatly bolster our position in the California Cannabis market.
VBF brands, Inc. has been a cultivator and distributor in the Salinas, California for the past two years and utilizes its own growing systems to produce desirable cannabis clones that are proprietary certified clean and designed to assist growers by reducing uncertainty and enhancing the likelihood of a successful cultivation harvest. Cannabis clones carry the exact same genetic potential as their mother plant and have similar cannabinoid and terpene profiles when grown properly. When clones are selected from healthy, high-quality mother plants, they also inherit their vigor, and natural resistance to mold, mildew, and pests.
Quintero added, “We are especially intrigued with this acquisition because of VBF’s reputation for high quality clones and its unique use of its growing space. The Company employs a multi-tiered vertical growing system, thereby maximizing the square footage of its Salinas, California facility. Few growers offer the efficiency of VBF Brands, Inc., which provides greater efficiency and sustainable cultivation techniques to provide growers with access to locally grown, high-quality clones to grow cannabis flower. Clones are cultivated in an expedient manner and sold for use to other cannabis flower growers that now don’t have to wait six months to cultivate and sell.”
Given that VBF focuses on the nursery aspect of the Cannabis sector, will help the Company yield revenue faster as the clones only take a few weeks to develop and are often presold to customers in large quantities. The California market is experiencing a significant decline in the sale of mature cannabis flower, but an increase in demand and prices for quality clones.
It is expected that being a key player in this specialized cannabis nursery niche should help MCOA achieve substantial revenue growth in 2022 and beyond.
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