The Hub Craft Signs Deal to Acquire Majority Ownership of Four Trees Holyoke
Partnership combines operational expertise of California and Massachusetts Cannabis industry experts and completes a fully vertical supply chain
Holyoke, Massachusetts--(Newsfile Corp. - January 27, 2021) - The Hub Craft, a Massachusetts Cannabis company provisionally licensed for Cultivation and Manufacturing in Fitchburg, and Four Trees Management Company, parent company to Four Trees Holyoke, a Massachusetts Cannabis company provisionally licensed for Cultivation and Adult-Use Retail in Holyoke, have entered into a definitive agreement under which The Hub Craft will acquire majority ownership of Four Trees.
In acquiring majority ownership of Four Trees, The Hub Craft will gain control over its first Adult Use Retail Cannabis license, serving to complete its vertical supply chain and establish a flagship dispensary location at 1 Cabot Street in Holyoke. In partnering with The Hub Craft, Four Trees' dispensary gains a constant supply of craft Cannabis flower, manufactured infused products and exclusive west coast branded products. Benefits also include expanded resources for R&D, breeding programs, and Cannabis cup winning genetics.
"The Four Trees deal is a major milestone and will provide shareholders with an immediate and substantial value as it completes The Hub Craft's vertical integration goals ahead of plan. The Hub Craft is a fast-paced, performance driven company. Our focus is on fast growth, emphasizing technological and operational efficiencies. Our core fundamental principle is integrity and comprehensiveness. Our drive for a positive culture, community involvement, education and social justice is important. Our diversity and merit-based team building approach will help us continue to attract the best-in-class talent to fill key roles. These positive socio-economic belief systems are in unison with Four Trees and we are excited to have them join our leadership team," said Howard Tanyu, CEO of The Hub Craft. "This marks a tremendous phase of growth for our company, while also providing us with a partner that shares in our commitment to customers and employees. Based on our extensive engagement with Four Trees over the past several months, we are confident that Four Trees' support will enable The Hub Craft to execute on its strategy and next phase of growth."
"Cross coast collaboration makes a lot of sense as we move closer to federal legalization. The opportunity we see together by combining our operational expertise is massive," said Noni Goldman, Four Trees Management Company CEO and Co-Founder. "As scalable cultivation and manufacturing become more and more critical to the success of every Cannabis organization, we share a vision of streamlined operations from seed to sale, without sacrificing the quality of flower or integrity of our company culture."
The Hub Craft Expands Its Executive Team to Push the Company Forward
Four Trees Co-Founders Arthur Brownsey, Steve Goldman, and Noni Goldman will join The Hub Craft's executive team, which includes west coast professionals and industry veterans. Founding Advisor and Board Director Tim Stoddart will join the Four Trees management team as Executive Director.
Acquisition to Complete Vertical Supply Chain
The Hub Craft's 3.9 acre lot, which houses it's 55,000 sq ft cultivation, manufacturing, and distribution facility will supply the first dispensary location in Holyoke, as well as a number of select retail partners. An on-site cultivation center in Holyoke is anticipated to serve as the company's future breeding program headquarters and nursery.
Award Winning Genetics and Ongoing Research and Development
The Hub Craft and Four Trees leadership will serve to strengthen the companies' collective focus on product and genetics research and development. Arthur Brownsey, co-founder of Four Trees, will join The Hub Craft as Director of R&D. His exclusive cultivar "Davy Jones" led the Four Trees team to win two consecutive titles for Best Indoor Flower at the New England Harvest Cup. The Hub Craft will also leverage their existing industry relationships by introducing legacy, multi-cup winning breeders and other leading multi-state Cannabis brands to the Massachusetts market.
About The Hub Craft
The Hub Craft is a minority-led business which holds CCC provisional licenses for Cultivation and Manufacturing of Cannabis products. Their facility is currently under construction in Fitchburg, MA. The Hub Craft will be one of the only licensed cultivators on the east coast producing products using living soil methodologies.
About Four Trees
Four Trees Management Company is the parent company to Four Trees Holyoke, a minority-led business which holds CCC provisional licenses for Cultivation and Adult Use Retail in Holyoke, MA. Three Four Trees founders also own and operate Four Trees Management LLC, where they serve as official cultivation educators for the CCC's Social Equity Program and have served as cultivation consultants. Co-Founder Noni Goldman currently serves as the chairwoman of the Cultivation Committee of the National Cannabis Industry Association. Four Trees anticipates opening their Holyoke dispensary location in late 2021.
No Offer or Solicitation
This communication is not intended to and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Source: The Hub Craft
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