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