Create a free Cannabis Equipment News account to continue

Blüm Sells Cannabis Cultivation Assets

The company said the move will help it refocus on cannabis retail and brand leadership.

Blum Logo Pr 1

Blum Holdings, a cannabis company with operations throughout California, announced its wholly-owned subsidiary Unrivaled Brands’ divestment of its final California cultivation facility, a decision which aligns to a broader realignment strategy concentrating the company's efforts on operating and expanding profitable cannabis assets and developing brands.

"As we navigate the dynamic cannabis landscape, our strategic focus must be on sustained growth, cash generation, and profitability. The divestiture of our final California cultivation facility positions the Company to concentrate on the cannabis retail market and on our leading cannabis brands, where we believe we have stronger opportunities for revenue generation and market leadership," said CEO Sabas Carrillo.

More in Cultivation