Marijuana delivery company Smoakland is acquiring Sublime, a fellow California operator that manufactures pre-rolls, vaporizers, extracts and edibles.
The acquisition includes Sublime’s employees, its manufacturing facility and license, according to a news release.
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Both companies are based in Oakland.
Financial terms weren’t disclosed, but it was an all-cash deal in exchange for 100% equity, Chang Yi, Smoakland’s CEO and chief legal officer, told MJBizDaily via email.
“No debt service involved. Not a (leveraged buyout) situation at all,” Yi noted. “Clean purchase.”
The acquisition will allow Smoakland to expand its manufacturing and distribution capabilities, according to the release.
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Smoakland already offers the Smoakland and Sierra Hillz brands; Sublime is known for its Fuzzies brand.
“Combining the
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