Pure Harvest Acquires Sofa King

Cannabis and hemp-CBD holding company Pure Harvest Corporate Group Inc. PHCG, which ventured into the CBD pet market earlier this year, has acquired Sofa King Medical Wellness Products LLC.

The Colorado Marijuana Enforcement Division approved the all-stock transaction on August 11, the company said Monday.

Colorado’s regulatory body allowed SKM to transfer ownership over its six licenses to Pure Harvest. They include Recreational and Medical Marijuana Cultivation Facility, Recreational and Medical Infused Product Manufacturer, and a Recreational and Medical Retail Marijuana Store.

Pure CEO Matthew Gregarek said they are pleased to team up with SKM, adding, it’s an “exceptional distribution point for our house brands and consumer products.”

SKM, a vertically integrated cannabis company, debuted in Colorado in 2014.

It operates a Dumont-Downieville-based dispensary, cultivation, and processing facility.

Gregarek stated that SKM’s team “impressed us since day one,” considering their “management and staff have the expertise to help us achieve our vision.”

SLM founder Neale Gibbons shared the enthusiasm regarding the new partnership. 

“This is a milestone for both entities, and it provides a solid foundation from which we will look to scale both nationally and internationally,” continued Gibbons.

The Denver-based company confirmed that Gibbons would helm Pure Harvest Colorado as its CEO.

Courtesy photo