California Cannabis Enterprises Announces Unification Under Glass House Group Brand, New Leadership Team

The Unification Reflects the Company’s Recent Acquisitions, Growth Trajectory for 2019/20

LOS ANGELES--()--California Cannabis Enterprises, one of the largest, most profitable privately held, vertically integrated cannabis and hemp companies in the world, announced it will operate under the name Glass House Group. Over the past three years, the company acquired numerous businesses. The unification will bring together Glass House Farms, Glass House Brands, Carp Manufacturing LLC and retailers Bud and Bloom, The Pottery and iCANN Berkeley under the Glass House Group moniker.

“The Glass House brand is a trusted and respected leader in the cannabis industry,” said Glass House Group CEO Kyle Kazan. “By consolidating our companies under the same brand, we will align Glass House Group’s corporate vision and growth strategies to be in the best position to capitalize on our core strengths and add value.”

The unification changes will be represented in the following ways:

  • California Cannabis Enterprises will become Glass House Group, and continue to serve as the parent company of all of its subsidiaries;
  • Retailers Bud and Bloom, The Pottery and iCANN Berkeley will become Glass House Co-Op;
  • Carp Manufacturing LLC will become Glass House Manufacturing; and
  • Glass House Farms and Glass House Brands will continue to keep their existing names.

The unification, which will take effect over the course of the next 18 months, will help Glass House Group’s family of companies: streamline customer relations, client services, employee trainings, community relations and best practices; drive clarity and cohesion across product lines; and identify and maximize synergies across companies.

Although the companies will continue to operate independently, the new parent company, Glass House Group, will be led by an integrated leadership team responsible for implementing and supporting the shared vision and mission of the company and its brands. Kyle Kazan will assume the role of Chief Executive Officer and be supported by: Chief Operating Officer Daryl Kato; Chief Financial Officer Derrek Higgins; President of Glass House Farms and Officer of the Glass House Group Graham Farrar; along with additional executives and board members to be announced in the near future. The individual companies will continue to leverage its existing leadership teams for day-to-day operations and execution.

Kazan added: “Over the past three years, our company has experienced incredible growth and brought together a talented team made up of individuals, who share in our vision of exceptional quality, eco-friendly approaches and caring about the communities that we serve. As we continue to grow both organically and through acquisitions, our leadership team looks forward to shepherding in a new era in the cannabis industry and bringing the full power of the Glass House Group to light.”

About Glass House Group

Glass House Group is one of the largest, privately held, vertically-integrated cannabis and hemp companies in the world. Its family of eco-friendly, community-conscious cultivation, manufacturing, brands and retail locations bring to market only the finest strains of cannabis and hemp using cutting-edge care, technologies and environmental sensibility to deliver uncompromising craft-quality strains, flower, extracts, pre-rolls, vaporizers, cartridges and apparel. As a leading brand-enabling company, celebrities, artists, athletes and influencers turn to Glass House Group to create powerful partnerships that reach new audiences and drive consumer engagement. Currently, Glass House Group is expanding its suite of companies, product lines and brands and is expected to see sizable growth throughout 2019 and beyond.

Contacts

Ellen Mellody
570-209-2947
ellen@powerplantstrategies.com

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Contacts

Ellen Mellody
570-209-2947
ellen@powerplantstrategies.com