Flora Growth Corp. (NASDAQ: FLGC) is building a design-led collective of plant-based wellness and lifestyle brands that delivers
the most compelling customer experiences in the world, one community at a time.
The company operates one of the largest outdoor cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices. By prioritizing natural ingredients and value-chain sustainability across its portfolio, the company leverages natural, cost-effective cultivation practices to supply cannabis and cannabis derivatives to wholesale buyers
and its diverse business divisions.
Founded in Canada, Flora moved its headquarters to Miami in late 2021 as the company expanded its reach across the globe. Its base of cultivation operations are in Colombia, where it has built an extensive distribution network that includes Colombia’s largest distributors, while the recently acquired Vessel Brand team is based in Carlsbad, California.
Currently, Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis – while seeking revenue-generating acquisitions that offer human-capital expertise and an accretive distribution network to amplify revenue growth.
One of the core and most strategic aspects of Flora’s business model is Cosechemos, the company’s 247-acre cultivation facility in Colombia. Given Colombia’s ideal climate, Flora’s production cost is approximately $0.06/gram, compared to production costs of $1/gram or more in North America and other parts of the world.
Not only can Flora fully supply cannabis and its derivatives to its internal brands and divisions; it can do it at a cost that is hard to compete with and at the world’s highest quality standards.
Flora’s cultivation is certified GACP, which means the company’s flower can be used within medical markets globally. Flora also just completed a state-of-the-art EU-GMP compliant extraction facility at Cosechemos, throwing open the door to a significant revenue opportunity in the $16.47 billion global medical cannabis market. Sales are expected to start ramping up in
early 2022 out of this facility.
In addition, the Colombian government recently overhauled cannabis legislation, opening the cannabis market by allowing the export and domestic consumption of dried flower and cannabis ingestibles.
House of Brands
Flora has curated a collection of consumer brands that are developed for key market segments and align with the company’s values to deliver on a plant-first, plant-focused, sustainable promise. These brands create high gross margin opportunities, as well as ownership of customer relationships.
The quality of Flora’s brand building speaks for itself, with an impressive early track record.
In November 2021, the company entered the rapidly growing U.S. CBD beverage market by signing a licensing agreement with luxury brand Tonino Lamborghini. Through this agreement, Flora will produce Tonino Lamborghini-branded cannabis beverages that will be distributed throughout North America and Colombia, with a major focus on the U.S.
“Together with Flora we aim at creating new and innovative products and experiences for the modern consumer’s wellbeing,” Ferrucio Lamborghini, CEO and VP of the Italian company, said in a news release.
Flora also recently acquired Vessel Brand Inc., the dominant brand in luxury cannabis consumer technology. This acquisition solidifies Flora’s U.S. presence, while also bringing key players to the executive team.
These moves were just a few of the many that Flora Growth made in the last year.
- Flora’s Stardog brand opened its first brick and mortar store in Miami and signed a distribution deal with Macy’s, one of the world’s largest retailers.
- Flora’s Mind Naturals brand signed distribution agreements with Walmart.com and Coppel, and its CBD skincare products are being exported to Spain and Mexico.
- Flora’s cannabis infused food and beverages are expected to be distributed through Tropi, the largest food and beverage distributor in Colombia, once the recent law change comes into effect.
- Flora Growth operates one of the largest outdoor cannabis cultivation facilities in the world with an aim of marketing a higher-quality premium product at below-market prices.
- Flora moved its headquarters to Miami in late 2021.
- Flora is organically growing market share across its three major pillars – wholesale cannabis, CPG cannabis brands, and pharmaceutical cannabis.
- In November 2021, the company entered the rapidly growing U.S. CBD beverage market by signing a licensing agreement with luxury brand Tonino Lamborghini.
- Flora recently acquired Vessel Brand Inc., the dominant brand in luxury cannabis consumer technology.
- The company closed out 2021 by announcing a 2022 revenue guidance projection of $35-45 million.
Flora Growth Corp. (NASDAQ: FLGC) Expands Global Distribution Network to Three Industry-Leading Countries; Wins Award for Best M&A Deal at the 2022 Benzinga Cannabis Capital Conference
October 4, 2022 10:30 AM
- Flora just announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD isolate to the United States
- Luis Merchan, the company’s CEO, has described this as a “major milestone,” one that further defines the company’s revenue pipeline
- He pointed out the increasing demand for Flora’s high-quality, high-margin flower and derivatives from its cultivation operation in Colombia, terming it as a testament to the Flora team’s ability to execute in a very complex global regulatory environment
- Flora also earned the Best M&A Deal award at Benzinga’s 2022 Cannabis Capital Conference in Chicago, an award that recognized the company’s strategic M&A objectives, including acquiring products, expertise, expanding distribution, and customers
On September 26, Flora Growth (NASDAQ: FLGC) announced the first successful export of Colombian high-CBD dried cannabis flower to Switzerland and the Czech Republic, as well as CBD, isolate to the United States. Luis
Merchan, Chairman and Chief Executive Officer (“CEO”) of the company, described this as a “major milestone,” one that further defines Flora’s revenue pipeline. The company also launched its commercial website, where interested buyers can expedite the processing of orders and learn about the company’s cultivation and growth practices (https://cnw.fm/l07N0).
To view the full source article, visit: https://www.cnw.fm/GnNgU
The High Lifestyle Show
10/7 - 10/9 – Boxboro Regency Hotel, Boxborough, MA
The HighLifeStyleShow will be a gathering of brands, dispensaries, distributors, growers, artists, performers and consumers to converge in the HighLifeStyle of B2B and B2C in a resort hotel conference setting with exhibitors, vendors, concerts, comedy, education, celebrities, socializing and networking.
With medicinal and recreational now accessible in Massachusetts for adults over 21, users have choices of where to purchase their products and will eventually choose their favorite brands and retail outlets just like with other consumer products. Most other canna events are only aimed at the “industry” involving manufacturers and medication. We expect to be a place for cannabis brands and dispensaries to market to reach potential customers and new business relationships.
- We will offer exhibitors and vendors a fun environment to meet qualified customers who are interested in canna related products, services and creative arts. There will be no THC products for sale on property.
- As a business conference, one of our goals is to have businesses, entrepreneurs and brands to be able to meet the distributors, retailers and consumers in an entertaining, safe environment. Retail distributors can promote their products and retail locations in order to compete to attract new customers. Artists can find new fans. Craft growers can network
to find supplies they may need to be an at-home botanist, or find outlets or job opportunities.
- As a LifeStyle conference, we will be showcasing all aspects of the canna inspired culture including health, wellness, music, art, clothing, literature, food, cultivation, supplies, medical, educational and ancillary aspects including cannabis weddings and travel.
- There will be two levels of participation involving access to indoor and outdoor activities. All attendees will be able to access all of the Exhibitors indoors and out.