The acquisition first announced at the beginning of the month is complete
Earlier this month, Green Thumb announced that it would acquire For Success Holding Co., the owners of the Beboe marijuana lifestyle brand. That acquisition has now run its course and Green Thumb is the proud owner of the “Hermes of marijuana.”
The acquisition was consummated this week and will see Green Thumb control Beboe products, which are offered in over 125 retail stores in California and Colorado. Beboe also recently signed an exclusive partnership with Barneys to help the luxury store with its cannabis lifestyle and wellness shop, which is coming to Barneys’ Beverly Hills location.
According to a statement by Green Thumb founder and CEO Ben Kovler, “The meticulously-crafted suite of Beboe products supports the premium segment within GTI’s brand portfolio and is firmly aligned with our long-term growth strategy. Beboe has an extremely talented team, a robust innovation pipeline, an aligned vision on the future of cannabis and a ground-breaking partnership with Barneys New York. We are thrilled to have the visionary Beboe team officially on board with GTI.”
Beboe co-founder Clement Kwan states, “We aligned with GTI because we agree with their strategies and philosophies. We believe cannabis enhances the quality of life, and to be able to improve the lives of more people with Beboe’s introduction into additional stores and new markets is extremely gratifying. With the support and national platform of GTI, partnerships like Barneys will have a broader reach and we will waste no time in growing Beboe brands’ availability and to help define cannabis’ place in American culture.”
The price tag on the acquisition has not been released.