Ayr Wellness Agrees to Acquire Tahoe Hydro, Adding Award-Winning Cultivators of High-Quality Flower in Nevada
NEW YORK, July 19, 2021 (GLOBE NEWSWIRE) — Ayr Wellness Inc. (CSE: AYR.A, OTC: AYRWF) (“Ayr” or the “Company”), a leading vertically integrated cannabis multi-state operator (“MSO”), has announced a Definitive Purchase Agreement (the “Purchase Agreement”) to acquire Tahoe Hydroponics Company, LLC (“Tahoe Hydro”), an award-winning cultivator and one of Nevada’s top producers of high-quality cannabis flower, and NV Green, Inc. (“NV Green”), producers of best-in-class concentrates. The transaction is subject to customary regulatory and other approvals.
Tahoe Hydro operates ~33,000 square feet of total cultivation and manufacturing space in its facilities in Carson City, Nevada, and Sparks, Nevada. It grows flower and produces concentrates for some of the state’s top selling brands, including Tahoe Hydro and LIT (Lost in Translation), top-sellers and local favorites throughout the state, according to BDSA, and is a Nevada flower supplier for the well-known Cookies brand. The acquisition will add significant cultivation capacity to Ayr’s Nevada operations¹ and provide the Company with expanded access to high-quality premium flower for its operations throughout the state, enabling the Company to better serve its retail customers with increased availability and selection of high-quality, Ayr grown flower in its retail stores, and provide additional capacity to expand its wholesale presence within Nevada.
The acquisition will add significant cultivation talent to Ayr’s already robust cultivation team, including 75 employees, which the Company plans to deploy both within Nevada and nationally.
The Tahoe Hydro acquisition perfectly encapsulates Ayr’s strategy. We seek to be the largest scale cultivator of high-quality cannabis in every market where we operate.
Jonathan Sandelman, CEO of Ayr
Tahoe Hydro has demonstrated time and time again