Upstream Acquisition Expands Left Coast Ventures’ Value Chain
SAN FRANCISCO–(BUSINESS WIRE)–Left Coast Ventures (LCV), a leading manufacturer, marketer, and distributor of premium cannabis products, today announced that it has closed an acquisition of top cannabis extraction company, Sisu Extracts (SISU). SISU is based in Humboldt County and has successfully scaled its business around the founding mission to secure sales pipelines for local farmers while delivering the highest quality cannabis extracts and flower to leading brands. The acquisition, which strategically expands Left Coast Ventures’ value chain, will be complete upon final regulatory approvals.
As California’s leading extractor, SISU works with an expansive network of farmers to produce more than 20 percent of the total legal distillate sold in California. Their unique business model supports more than 300 local California cannabis farmers by paying them 70% of the profits generated from their plants, which is up to 50% above standard prices paid to farmers. “Our company grows because farmers believe in us,” said Joe Wynne, SISU Vice President of Sales. “Farmers believe in us because we support them in the way that matters most. Simply, we pay more. We are happy to have joined a team that contributes to this philosophy with great brands and retail access, allowing SISU to bolster farms in this rapidly emerging market.”
SISU owns and operates manufacturing and distribution facilities in Eureka and Arcata in Northern California, as well as a distribution hub in downtown Los Angeles. In addition to these centers, SISU also has wholesale flower showrooms in Los Angeles and in Eureka, providing a dynamic conduit between farmers and buyers in locations where the largest California cannabis brands procure top quality flower and distillate. This model has opened doors for farmers who would not otherwise see their product on retail shelves in California.
“SISU has a strong strategic and cultural fit with Left Coast Ventures. Since its inception, SISU has profitably built its business by providing consistent, high-quality cannabis distillates and other extracts while prioritizing small farmers through its grower-focused model,” commented Brett Cummings, CEO of Left Coast Ventures. “This acquisition strengthens our supply chain with one of the largest and most respected cannabis extraction companies in California, and we look forward to working with the founding team to continue operations.”
“Joining Left Coast Ventures with its respected portfolio of brands like Marley Natural™, Mind Your Head™ by Mickey Hart, and the soon to hit shelves Carlos Santana line, will connect California’s original cannabis cultivation community with iconic global brands that will drive sales,” said John Figueiredo, CEO of SISU. “I look forward to working with Brett and the Left Coast Ventures team to secure the long-term viability of both SISU and our cultivation community while continuing to transform the California cannabis industry.”
SISU is a full-service supply chain solution offering wholesale concentrates and flower as well as white labeling services to the largest brands in the state of California. Based in Eureka, California, SISU was founded in 2017 and developed a disruptive business model first offering cultivators a 60/40 split in 2018, soon followed by the industry leading 70/30 split. This business model has evolved to an industry leading profit center for farms producing 20 percent of the total legal distillate sold in California. SISU works with over 300 cultivators statewide and has expanded its product offering to wholesale flower with a high-volume flower showroom in Downtown Los Angeles. SISU works to provide farms and brands the freedom to spend time and effort on their respective market segments by simplifying the steps between soil and sales.
About Left Coast Ventures:
Headquartered in Santa Rosa, CA, Left Coast Ventures is a diversified cannabis and hemp company specializing in cultivation, manufacturing, brand development, and distribution. Left Coast Ventures and its subsidiaries are working to shape the future of the legal cannabis industry in the United States through acquisitions, investments, and incubation while building a respected portfolio of top shelf brands. Wholly owned, licensed, and distributed brands within the Left Coast Venture’s portfolio include: Marley Natural™, Mind Your Head™ by Mickey Hart, the upcoming Carlos Santana brand, JEF™, SoulSpring™, Chill™, Headlight™, Get Zen™, Half Lit™, and New Frontier™.
Ann Peltz, Media Relations