Santa Rosa’s CannaCraft to merge with San Diego cannabis dispensary chain

Officials from CannaCraft confirmed Wednesday morning that the large Santa Rosa cannabis producer plans to merge with March & Ash, a Southern California dispensary chain.

Forbes magazine first reported the deal. CannaCraft announced the news late Wednesday. The umbrella company will be known as Groundwork Holding Inc., and will remain privately owned.

Officials from the company were not available for comment. The closing date and financial details of the merger were not disclosed.

The merger agreement will then be drafted. “efficiency purposes,”According to a spokesperson for the company, there are no layoffs in the future. The combined company will create a new board.

Groundwork Holdings’ CEO will be Breton Peace who is March and Ash’s general counsel. Danielle Dell’Era, CannaCraft chief financial officer, will assume those duties for the newly formed umbrella firm.

Dennis Hunter and Ned Fussell are co-CEOs at CannaCraft.

CannaCraft was established in 2014 and is a large manufacturer of cannabis products including topicals, vaping equipment, and beverages. CannaCraft also produces a CBD-infused root beet. Its roots date back to the 1980s when Hunter, a young adult from Mendocino County, first learned how to grow cannabis. Hunter has been a key figure in the cannabis community ever since.

“We are confident that this merger better positions us to ensure that Californians have access to safe and affordable cannabis,”Hunter stated this in a statement.

Fussell said: “We are proud to have created innovative brands and products with deep roots in California.”

He also called March Ash and Ash a “visionary”Partner dispensary

CannaCraft also manages a farm that ties the company back to its founders’ roots — which culminated in a product designed to use proceeds in sales to help those languishing in prison on federal drug crimes.

Farmer and the Felon will receive proceeds to support the Last Prisoner Project. This coalition consists of activists, leaders and artists from the cannabis industry working on social justice and prison reform. Hunter and his business partner, Fussell, were introduced to the Last Prisoner Project during a benefit party at Jim Belushi’s house in Los Angeles.

Farmer and the Felon raked in $1 million gross revenue in just three months after they had reached all the cannabis dispensary shelves and established an online presence.

CannaCraft has the opportunity to merge March and Ash, giving it a strong foothold throughout Southern California.

March and Ash was established in 2016, and now operates two dispensaries downtown San Diego, two in Chula Vista East, and one each at Vista (north), Imperial Beach and Imperial Valley (both east sides of the county). All jurisdictions permit adult, recreational sales according to the guidelines set out by Proposition 64. Proposition 64 was passed in 2016 by California voters.

Blake Marchland, founder and CEO of Marsh and Ash, called it the merger “a natural fit.”

“We’ve known the CannaCraft team for some time and share their values and vision for this industry,”Marchland stated.

The transaction was assisted by Almore Capital in Tysons, Virgina.

Susan Wood writes about law, cannabis production, tech and energy, as well banking and finance. Susan has worked 27 years for a variety magazines, including the North County Times (Taho Daily Tribune), Lake Tahoe News (Lake Tahoe News), and the Tahoe Daily Tribune (North County Times). Reach her at 530-545-8662 or [email protected]

This story was updated late Wednesday with details from CannaCraft’s announcement.

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