Gold Flora acquires Airfield Supply Company, California's largest single-site dispensary and retail leader.

Airfield acquisition significantly expands Gold Flora's footprint and opportunities in the world's largest cannabis market, further solidifying it as a leading vertically-integrated operator.

COSTA MESA, Calif., Feb. 8, 2022 /PRNewswire/ -- Gold Flora, California's leading vertically-integrated single-state cannabis company, announced it had acquired Airfield Supply Company - one of California's most innovative and respected retail brands. Airfield Supply Co. also acquired San Jose cultivation operations, Mountain View distribution licenses, Mountain View delivery licenses, and its proprietary intellectual property.

Arguably the largest single-site vertically-integrated cannabis retailer in California, both by customer count and annual gross revenue, the San Jose-based Airfield has on-site indoor cultivation facilities that include a 9,000-square-foot canopy and manufactures co-branded products within its 20,000-square-foot location near the San Jose International Airport. One of two delivery licenses for the company is also available in Mountain View, CA, which is home to many of the most prominent technology companies around the globe, such as Alphabet, Intuit, and LinkedIn.

Airfield Supply Company was established in 2010 to serve the South Bay Healing Center medical market. In 2015, it changed its name to Airfield Supply Company. The airfield has over 1,300 customers per day and is well-known for its premium retail aesthetic and innovative customer experiences. This includes their Tesla delivery fleet, proprietary website, touchless prepayment delivery solutions, and experiential shopping buildouts. The airfield has been awarded numerous awards, including three Clio Awards in 2021. They are also an industry leader in sustainability, having introduced innovative packaging lines to Aviation and implemented a program to recycle cannabis packaging waste for retailers.

Marc Matulich, founder and CEO of Airfield Supply Company, will continue in his current role and maintain ownership over any expansion plans. Matulich is a respected industry leader and looks forward to aligning his company to all that Gold Flora has to offer.

 

It is an honor to be a part of Gold Flora. We are honored to be a partner with Gold Flora. They have been a long-standing collaborator of Airfield and share common values around innovation and customer experience, product strategy, and social and ecological responsibility. We are confident that Gold Flora will be a dominant player in the market and propel the cannabis industry forward.

CEO Marc Matulich, founder of Airfield Supply Company

We are incredibly excited about Airfield's future with Gold Flora and look forward to working together to improve the California consumer experience.

 

Gold Flora is a privately held company that owns and manages a strong portfolio of cannabis businesses and retail dispensaries across the state. This includes King's Crew in Long Beach and the Higher Level dispensary chain servicing Hollister and Seaside. Gold Flora is currently in the final competition to apply for Corona and Costa Mesa retail locations. Gold Flora expects to have an annual retail revenue rate of about $150 million due to the Airfield acquisition, as well as potential expansion plans by both companies. This makes it one of California's most prominent retail operators.

Gold Flora also has a 620,000-square-foot cannabis campus in Desert Hot Springs. This is where the company's indoor cultivation and manufacturing efforts are located. It also houses its distribution. The company distributes for more than a dozen brands, including Gold Flora's premium brand. Gold Flora's cannabis campus at complete construction will be one of the largest in California.

Laurie Holcomb, CEO, and founder of Gold Flora, said that the acquisition of Airfield Supply Co. was one of the most significant steps the company had taken to expand its reach and accelerate its goal to become a leading vertically integrated operator throughout California.

 

We are delighted to include Airfield and its amazing family of businesses in our portfolio. Marc has created an impressive company, and we are looking forward to the many synergies and benefits that this deal will bring to our customers and the communities we serve.

Laurie Holcomb founder and CEO, Gold Flora

 

Gold Flora closed the acquisition of Airfield Supply Company Gold Flora on December 31, 2021. Hyperion Capital Inc. was the financial advisor for Gold Flora. Merritt Advisory principals represented airfield Supply Company. Gold Flora intends to preserve the brand, management, and staff of Airfield Supply Co. with several significant initiatives in 2022.

About Gold Flora

Gold Flora, a single-state, vertically integrated operator, is located in Costa Mesa. Gold Flora's platform covers cultivation, manufacturing, and distribution. It also includes retail and portfolio brands. Gold Flora Farms, a unique and fully licensed cannabis farm in Desert Hot Springs, is the company's affiliate. It houses the largest indoor cultivation facility in the state.

Gold Flora is dedicated to providing legal cannabis products of the highest quality and thoroughly tested California. It was founded on trust, transparency and ethical standards are essential to the rapid-evolving cannabis industry. In addition, it is one of few cannabis brands that can be vertically integrated and woman-owned, and managed. For more information, visit goldflora.com.

 

Article and photo credits: https://www.newcannabisventures.com/california-cannabis-operator-gold-flora-acquires-airfield-supply-company/