“The company has seized this moment to drive a consolidation of distressed assets and create a growing business with strong fundamentals in the largest cannabis market in the world.”
SAN DIEGO (PRWEB) January 26, 2023
California cannabis brands Cream of the Crop and West Coast Trading merged in January with a manufacturing and distribution enterprise to create Talarya Brands. The consolidation play raised $6 million to drive additional acquisitions in the distressed California cannabis sector, according to the company’s CEO, Dustin Milner.
The Talarya merger was driven by D4C, a private-equity investment firm led by James Kinsella and Robert McNeal, who have created multi-Billion dollar exits for investors through distressed industry roll-ups.
The California cannabis industry is roiling from the boom-bust cycle, explains Talarya Brands Chairwoman and D4C partner, Kelly Coyne. “The company has seized this moment to drive a consolidation of distressed assets and create a growing business with strong fundamentals in the largest cannabis market in the world,” says Coyne.
Cream of the Crop consistently ranks in the top 10 best-selling California brands. Combined retail sales of $28 million in 2022 places Talarya Brands in the top 5% of all cannabis producers, according to Headset data. The company focuses on production, sales and distribution of its own products, from flower and pre-rolls to vapes and high-end smokable concentrates. In the fourth quarter of 2022, Talarya Brands launched California’s first vegan, sugar-free gummy called Wanderers.
As for the company’s next steps, Dustin Milner, CEO, says “The cannabis industry nationwide is poised for a consolidation similar to what we have done in California. Talarya is eyeing additional acquisition and expansion opportunities outside of California.”
Talarya Brands produces award-winning labels Cream of the Crop, West Coast Trading and Cosmic, with facilities in Northern and Southern California to serve the world’s largest cannabis marketplace.