CHICAGO, December 22, 2020–(BUSINESS WIRE)–Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or “the Company”), one of the largest vertically integrated, multistate cannabis operators in the United States, announced today that it had entered into an extension of its distribution agreement (the “Agreement”) with the leading California-based cannabis brand Kings Garden Inc. (“Kings Garden”). Under the Agreement, Cresco’s subsidiary, Continuum, which is one of the largest full-service distribution businesses in the state, will continue to serve as the exclusive distributor of Kings Garden packaged products.
Kings Garden is a brand powerhouse in California, consistently ranked in the top five of flower and concentrate sales according to BDS Analytics. Continuum currently services nearly 600 of the top licensed retailers in California.
California continues to be one of Cresco Labs’ core markets and a major contributor to our total revenue. We believe that our strength in a historically competitive state is attributed to our ability to offer an assortment of category-winning cannabis products across price points.
David Gacom, West Regional President of Cresco Labs
“Kings Garden compliments our strong California product portfolio allowing us to open new doors and increase velocity of current accounts,” added Gacom.
We’ve been working closely with the Cresco Labs team since their acquisition of Origin House and are thrilled to continue this partnership with today’s announcement.
Michael King, Co-founder, Kings Garden
We’re confident that the combination of our large-scale production, brand prowess and Continuum’s reach and exceptional distribution network will accelerate growth and increase market share for both parties and ensure that top-shelf Kings Garden product is available throughout the state of California.
“As we continue to increase our cultivation footprint and annual production, it’s important we continue to grow our reach and hold our position as the number one indoor flower brand in the state of California,” said Charlie Kieley, Co-founder and Chief Operating Office, Kings Garden. “This can only be accomplished by continuing our distribution partnership with the state’s leading distribution company and platform.”
About Cresco Labs:
Cresco Labs is one of the largest vertically integrated multi-state cannabis operators in the United States. Cresco is built to become the most important company in the cannabis industry by combining the most strategic geographic footprint with one of the leading distribution platforms in North America. Employing a consumer-packaged goods (“CPG”) approach to cannabis, Cresco’s house of brands is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted national brands including Cresco, Remedi, High Supply, Cresco Reserve, Good News, Wonder Wellness Co., FloraCal Farms and Mindy’s Chef Led Artisanal Edibles created by James Beard Award-winning chef Mindy Segal. Sunnyside, Cresco’s national dispensary brand, is a wellness-focused retailer designed to build trust, education and convenience for both existing and new cannabis consumers. Recognizing that the cannabis industry is poised to become one of the leading job creators in the country, Cresco provides the industry’s first national comprehensive Social Equity and Educational Development (SEED) program designed to ensure that all members of society have the skills, knowledge and opportunity to work in and own businesses in the cannabis industry. Learn more about Cresco Labs at crescolabs.com.
About Kings Garden:
Based in Coachella Valley, Kings Garden Inc. is California’s predominant cannabis cultivation, processing and manufacturing company, specializing in the world of premium grade boutique products at an unsurpassed commercial scale. Now one of the largest producers in California, Kings Garden prides itself on having organized a highly experienced cannabis management and operations team, while being fully compliant and licensed across the state of California.
From its inception, Kings Garden has held unwavering values focused on superior quality of end products, its team of management and employees who are considered family, giving back to local communities, and the advancement of the cannabis industry as a whole.
For more information, please visit the Kings Garden website at https://kingsgarden.com/.
Original press release