Green Development Brands has performed an arm’s length definitive arrangement to obtain control of Desert Rose dispensary in North Phoenix, which holds a license for a vertically-integrated operation in Arizona, consisting of retail, cultivation and an infusion kitchen.
As consideration for the subscription interests, Green Growth Brands revealed will pay an aggregate purchase cost of $12,350,000 in cash.
” The retail operations at Desert Rose fits our mentioned method of favoring big sales volume with high-productivity possessions,” said CEO of GGB, Peter Horvath. “Our vision of Green Growth Brands is to be a multi-state operator with stores averaging USD$ 15 million to USD$ 20 million in annual sales, driven by per square foot sales in excess of USD$ 10,000. This is what our first possessions in Nevada and this store in Arizona have attained.”
Desert Rose dispensary is located on the corner of 7th Ave and Happy Valley Road in North Phoenix and was established in August 2016. It has actually grown to serve almost 400 patients daily.
AP Photo/Richard Vogel