PHOENIX, Nov. 05, 2020 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Copperstate Farms Management, LLC, a vertically integrated cannabis company based in Arizona, has reached an agreement to acquire management rights and control of two Level Up (formerly MedMen Arizona) marijuana licenses and dispensaries in North Scottsdale and Tempe.
The locations include dispensary retail spaces, as well as a 25,000-square-foot cultivation and processing warehouse. The acquisition of the Level Up operations will further expand the Copperstate Farms retail footprint and solidify its market share in Arizona under the Sol Flower banner. This follows the passage of Proposition 207 in the 2020 election, allowing recreational marijuana use and cultivation by adults 21 or older in Arizona.
“We are excited to build upon the strong foundation established by the Level Up owners and team who have placed a premium on quality medicine and customer service. Copperstate Farms sees tremendous value in these locations, which will allow us to further expand our Sol Flower dispensary brand,” stated Copperstate Farms CEO Pankaj Talwar.
A multi-use dispensary concept, Sol Flower features a public-facing classroom and café in Sun City and an additional location in Tempe. With the Level Up acquisitions, Copperstate Farms now controls four retail operations across premiere Valley locations that offer channels to different patient demographics.
“Having solidified our position as the leading wholesale operation in the State of Arizona, we are delighted to begin expanding our retail footprint. Copperstate Farms produces high-quality cannabis at affordable prices for our wholesale customers and retail patients alike,” said Copperstate Farms Managing Director Fife Symington.
Copperstate Farms is home to the largest indoor cannabis facility in the U.S. with 40 acres under glass and is the parent company to multiple product suites including Good Things Coming edibles. The company holds exclusive distribution and manufacturing rights to several top-selling brands, including internationally awarded DNA Genetics, among others.