Copperstate Farms Management, LLC, a vertically integrated cannabis operator based in Arizona, has finalized an agreement with Goodness Growth Holdings, Inc., to acquire management rights and control of its Phoenix dispensary license.
The $15 million sale agreement of Green Goods (formerly Arizona Natural Remedies) at 22041 N. 23rd Ave., includes remaining inventory and equipment, Phoenix dispensary property lease, and all revenue-producing contracts. The acquisition increases Copperstate Farms’ retail footprint to five dispensaries under the Sol Flower brand. The brand’s four other locations include a multi-use dispensary concept in Sun City, featuring a public-facing classroom and café, as well as two stores in Tempe, and one in Scottsdale.
“Sol Flower is known for its wide selection of quality, trusted cannabis products and knowledgeable retail team. We’re thrilled to bring this experience and high-level of service to the Deer Valley community,” commented Dan Hayden, Director of Retail Operations at Copperstate Farms.
Since its establishment in 2016, Copperstate Farms has focused on growing its market presence solely within Arizona. This has allowed the company to scale and diversify its product suites independently with a targeted approach.
“Our goal is to be the leading cannabis brand in Arizona, one that is recognized not only for our expansive cultivation, but also our award-winning brands and inviting dispensary environments,” stated Brad Kotansky, CFO at Copperstate Farms.
Copperstate Farms owns a 40-acre glass greenhouse operation in Snowflake, Arizona, with an additional 40 acres approved for cultivation buildout. The company is currently constructing a 35,000 square-foot fully automated manufacturing facility in Tempe and plans to launch a new line of cannabis products in December. For more information on Copperstate Farms, visit CopperstateFarms.com. For more information on Sol Flower dispensaries, visit LivewithSol.com.
Photo: Full Spectrum Creative