Stash Ventures, a vertically integrated marijuana company in Mount Pleasant, Michigan, has acquired 11 stores from Cloud Cannabis, Inc. in Troy.
Financial terms of the deal were not disclosed.
Under the deal, which closed in January, Stash will take over stores in Ann Arbor, Cedar Springs, Detroit, Gaylord, Grand Rapids, Kalamazoo, Muskegon, New Baltimore, Traverse City and Utica, according to a Stash Ventures news release.
In a statement, Stash Ventures said the stores will continue to operate under the Cloud Cannabis name to maintain the brand's “established market position.”
Stash already operates three Timber Cannabis Company stores in the Michigan towns of Mount Pleasant, Owosso and Sturgis, as well as a cultivation and processing operation in Sturgis, according to a news release.
“Growing our investment in Michigan is important to us and we are proud to do this with an established brand like Cloud Cannabis,” Stash Ventures CEO Scott Moorhead said in a statement. Ta.
Moorhead added that adding more of its own retail stores will make it easier for Stash to expand its cannabis product lines, such as High Minded Creations.
Cloud Cannabis will continue to operate its own cultivation and processing operations under the terms of the agreement.
