Perfect Union Adds Infused Cannabis Manufacturer to Growing, Vertically-Integrated Portfolio

Cannabis retailer’s acquisition of Bonsai Brands will help expand market share in the industry’s fastest growing and least saturated product sector

Acquisition also marks complete vertical integration in-house and across all product categories

SACRAMENTO, Calif.--(BUSINESS WIRE)--Perfect Union, California’s largest wholly-owned cannabis company, today announced the acquisition of Bonsai Brands, an intellectual property holding company and licensed infused cannabis manufacturer based in Napa, Calif.

The company has assumed operations at Bonsai’s commercial kitchen, and they will retain current staff. Existing product inventory, including beverages, Terp Slurp, and baked goods, Morsel will be sold in Perfect Union’s 12 branded dispensaries. They will also be sold at a non-branded storefront under management and awaiting local name change approval, which is expected by the end of the year.

“Bonsai Brands is a critical addition to Perfect Union’s growing portfolio because they’ve redefined infused cannabis with innovation and commitment to quality,” said Perfect Union CEO Denyelle Bruno. “California’s infused product category is worth $500 million and growing, and it’s the least saturated sector, so we’re well-positioned to significantly expand market share. This acquisition is also the final piece to make the company completely vertically-integrated in-house and across all product categories.”

The company also announced that Kyle Marshall, founder of Bonsai Brands and cannabis industry trailblazer, will now serve as Director of Infused Products. Marshall worked extensively with the California Department of Public Health (CDPH) to establish guidelines that regulate the state’s infused products industry.

“I’m proud to have grown my love for cannabis into a brand that consumers trust and rely on for delicious taste, simple dosing and quality ingredients,” said Marshall. “I’ve respected Perfect Union’s operations for years, so joining the team as they expand their profitability, retail footprint and vertical integration is a win-win.”

“Kyle is a well-established and respected leader in the cannabis industry,” said Bruno. “And I’m thrilled to add his passion and expertise to the team as we continue our journey towards becoming the largest cannabis retailer in the world’s largest legal market.”

The company has experienced tremendous growth over the last 18 months that includes:

• Opening eight new California retail storefronts (Napa, Seaside, Riverbank, Morro Bay, Turlock, Weed, Shasta Lake and Ukiah) for a total of thirteen locations, twelve of which are branded as Perfect Union, with plans to open two new locations in early 2022
• Building out their second cannabis cultivation project in Colfax, Calif.
• Launching a charitable Community Fund tied to its in-house 530 Grower flower brand
• Successful closing of a Series B Preferred Private Placement for aggregate gross proceeds of USD$15 million
• Called for, and helped to secure, COVID-19 vaccine prioritization for essential cannabis workers
• Encouraging cannabis leaders to embrace labor unions to help professionalize the industry and protect workers

Perfect Union has over a decade of experience managing profitable cannabis businesses; navigating state and local laws and regulations; and adding value to the communities where they operate. The company has a proven track record of building engagement, social welfare and outreach programs that focus on local partnerships, monetary investments and in-store donation campaigns.

Learn more at Perfect-Union.com (Facebook | LinkedIn).

NOTE: Kitchen tours (following COVID-19 guidelines) and interviews with Denyelle Bruno and Kyle Marshall are available.