Glass House Group on Friday announced it has entered a binding agreement to purchase 100% of the stock and interests of F/ELD in an all-stock deal.
Los Angeles-based F/ELD is a manufacturer of cannabis vapes and concentrates and has won several awards for their products over the past several years.
Glass House Group, formerly California Cannabis Enterprises, comprises of Glass House Farms, Glass House Brands, Carp Manufacturing LLC and retailers Bud and Bloom, The Pottery and iCANN Berkeley under the Glass House Group moniker according to a previous press release.
The acquisition will provide capital to help scale F/ELD operations throughout California as well as expand Glass House Group’s profitable portfolio among others.
“Together with our team, financial expertise, family of companies and built-in supply chain solutions, we will easily be able to meet the marketplace’s growing demand for F/ELD’s products and concentrates, which have already won numerous awards, as well as help the company responsibly scale in the world’s largest cannabis market,” said Glass House Group CEO Kyle Kazan.
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