Mana Supply Acquires Phoenix Corporation
Following regulatory approval by Colorado’s Marijuana Enforcement Division, Mana Supply Holdings (www.manasupply.com) completed its acquisition of Phoenix Corp. on April 7, 2021, paving the way for the opening of Mana’s first dispensary in the state. Prior to full closing of the transaction, Mana completed an extensive renovation of the Denver location and is scheduled for a grand opening in May.
Mana was an early mover in the legal cannabis sector - opening the first of its two Maryland dispensaries in 2018 and has quickly become one of the state’s top revenue-producing operations. Mana is also a founding member of the National Cannabis Roundtable, a Washington trade association comprised of innovators, investors and employers across the spectrum of legal cannabis businesses in the United States.
With ongoing guidance from Pritchard Griffin Advisors, Mana is expanding into other legal cannabis states through targeted strategic acquisitions, such as Phoenix, as well as greenfield developments. Mana has been awarded three MIP licenses in Missouri and is in the process of developing a 10,000 ft2 manufacturing facility in Berkeley, MO scheduled to in early May, 2021.
Mana Chairman and CEO Christopher (“CJ”) Jensen stated “We’re thrilled to enter the Colorado market through the Phoenix acquisition and view this as a platform to opportunistically expand into other attractive communities throughout the state. We’d like to especially thank Pritchard Griffin and their executive advisor Phil Halpern for identifying the Phoenix deal and guiding us through the regulatory process as a first-time entrant into Colorado.”