LOS ANGELES, Sept. 9, 2021 /PRNewswire/ — Wonderbrett, the legendary West Coast cannabis brand best known for world-renowned genetics, exotic terpene profiles and pioneering cultivation techniques, announced today a first-of-its-kind cultivation partnership with Cloud Cannabis Co., a Michigan cannabis company on a mission to destigmatize and demystify the cannabis shopping experience. Cloud Cannabis Co. is among the fastest-growing cannabis retailers in Michigan, with four operating stores, 19 cannabis retail licenses and 200 employees, since launching in 2020.
Concurrently, Cloud Cannabis Co., announced today the acquisition of a state-of-the-art 70,000 square foot grow facility. The acquisition serves as the lynchpin for its new cultivation partnership, wherein Wonderbrett, one of the top five indoor flower brands in California, will cultivate their rare genetics and branded products in Michigan. In addition, all aspects pertaining to cultivation at Cloud Cannabis Co. facilities will be led and overseen by Wonderbrett’s founders and senior cultivation team.
This structure is that of a true partnership and not a traditional out-of-state licensing deal. Both companies expect it will result in Wonderbrett’s genetics permeating the Michigan market, accelerating Cloud Cannabis Co.’s rapid growth as a vertically integrated state operator and leader in cannabis retail.
“Cloud Cannabis is the perfect partner for us in Michigan due to their expanding retail footprint, extraction and distribution across the state,” said Wonderbrett Co-Founder and famed Breeder Brett Feldman. “This partnership will bring our expertise for the development of craft, small-batch, and artisanal products in California to a full scale market in one of the nation’s fastest growing states for recreational cannabis.”
“This acquisition provides Cloud with full control over our supply chain, allowing us to provide our customers with the highest quality products and retail experiences, while also optimizing the overall profitability of our operations,” said Cloud Cannabis CFO Tyson Macdonald. “With all the pieces in place to distribute best of breed products across the entire Michigan marketplace, we are well positioned to work with the highest quality brands looking to enter the Michigan market. Wonderbrett is an ideal partner for us, a people first organization with the same focus on quality execution at all levels.”
Based on July’s sales of $171M, Michigan represents an annualized market size of approximately $2.1B, yet the state’s supply of flower has been stifled due to a lack of supply. However, in July 2021, Michigan Marijuana Regulatory Agency reported flower sales exceeded $84 Million. This is evidence that the state’s cultivation license program has loosened its restrictions in order to support demand, and subsequently allow for strategic partnerships such as Cloud Cannabis Co., and Wonderbrett’s to positively impact the market.
Cloud Cannabis Co.’s newly acquired facility in Kalamazoo, MI, is currently operating with built out cultivation space, complete with power, lighting and watering systems. The facility has additional room for expansion, planned for 2022. Cloud Cannabis Co. opened its first retail location in Muskegon in June 2020, followed by locations in Ann Arbor, Traverse City and Utica. The company is building deep roots in Michigan with 15 stores planned to open in the next 12 months.