MWG Holdings announced its 2023 milestones and strategic plans for 2024.
In 2023, MWG Holdings celebrated a turnaround as the company achieved positive cash flow, in the face of broadly challenging economic conditions. It was a successful year for the company as the team focused on vertical integration and strategically placed retail facilities, continuing to grow under the new leadership of CEO Tom Sheridan. Perfect Union's sales hit a year end high in December 2023 with the month generating the company's highest revenue month of the year.
Based in Sacramento, CA, MWG operates nine dispensaries across California - Perfect Union and Wild Seed Wellness - as well as a 30,000-square-foot indoor cultivation and distribution facility. Since January 2023, MWG Holdings’ Perfect Union stores have seen a 3.5% growth in the number of transactions per month and a 3% average growth in revenue per month.
This year, the company also won a cannabis retail license in Woodland, California. Perfect Union Woodland is expected to open in Spring 2024, adding over 20 new jobs to the Woodland community.
Operational Highlights for 2023 Included:
- 2023 marked a new era for MWG Holdings, Inc. under the leadership of newly appointed CEO Tom Sheridan.
- MWG Holdings, Inc. obtained a new retail license in Woodland, CA. The new 2,695 sq ft foot store, will be located at 1810 E Main Street, Suite 101.
- In July, Hip hop artist Future launched his cannabis brand with products on shelves at Perfect Union stores in California.
- In November, MWG brand Blazy launched three new cannabis-infused gummies flavors in Perfect Union stores in California.
- In November, Perfect Union stores had their highest day of transactions and foot traffic to date on the cannabis industry’s Black Friday, Green Wednesday, Nov. 22.