Item 9 Labs, a vertically integrated cannabis operator and dispensary franchisor, said it has retained Sharp Capital Advisors to assist in the exploration of a sale of the company.
The company consists of two core operating businesses, Item 9 Labs and Unity Rd.
Item 9 Labs consists of a cultivation operation in a 20,000-square-foot facility on 49 acres in Coolidge, Arizona. This facility generates flower, used to fuel its own branded products, generating approximately $20 million in sales over the trailing twelve month period.
Unity Rd. is a national cannabis dispensary franchisor and a member of the International Franchise Association (IFA). With three active franchises (New Jersey, Colorado, and South Dakota) and a pipeline of additional franchisee opportunities, the Unity Rd. business is a capital efficient and asset-light model to distribute consistent quality brands in multiple states.
INLB owns an additional asset in Pahrump, Nevada, consisting of a partially completed 20,000-square-foot facility on 4.6 acres of land with two associated licenses.