SAN FRANCISCO--(BUSINESS WIRE)--PRESS RELEASE--Left Coast Ventures (LCV), a manufacturer, marketer and distributor of premium cannabis products, has announced that it has closed an acquisition of cannabis extraction company Sisu Extracts (SISU). SISU is based in Humboldt County and has successfully scaled its business around the founding mission to secure sales pipelines for local farmers while delivering the highest quality cannabis extracts and flower to leading brands. The acquisition, which strategically expands Left Coast Ventures’ value chain, will be complete upon final regulatory approvals.
As California’s leading extractor, SISU works with an expansive network of farmers to produce more than 20% of the total legal distillate sold in California. Their unique business model supports more than 300 local California cannabis farmers by paying them 70% of the profits generated from their plants, which is up to 50% above standard prices paid to farmers.
“Our company grows because farmers believe in us,” said Joe Wynne, SISU's vice president of sales. “Farmers believe in us because we support them in the way that matters most. Simply, we pay more. We are happy to have joined a team that contributes to this philosophy with great brands and retail access, allowing SISU to bolster farms in this rapidly emerging market.”
SISU owns and operates manufacturing and distribution facilities in Eureka and Arcata in Northern California, as well as a distribution hub in downtown Los Angeles. In addition to these centers, SISU also has wholesale flower showrooms in Los Angeles and in Eureka, providing a dynamic conduit between farmers and buyers in locations where the largest California cannabis brands procure top quality flower and distillate. This model has opened doors for farmers who would not otherwise see their product on retail shelves in California.
“SISU has a strong strategic and cultural fit with Left Coast Ventures. Since its inception, SISU has profitably built its business by providing consistent, high-quality cannabis distillates and other extracts while prioritizing small farmers through its grower-focused model,” commented Brett Cummings, CEO of Left Coast Ventures. “This acquisition strengthens our supply chain with one of the largest and most respected cannabis extraction companies in California, and we look forward to working with the founding team to continue operations.”
“Joining Left Coast Ventures with its respected portfolio of brands like Marley Natural, Mind Your Head by Mickey Hart, and the soon to hit shelves Carlos Santana line, will connect California’s original cannabis cultivation community with iconic global brands that will drive sales,” said John Figueiredo, CEO of SISU. “I look forward to working with Brett and the Left Coast Ventures team to secure the long-term viability of both SISU and our cultivation community while continuing to transform the California cannabis industry."