Sunniva announced the acquisition of LTYR Logistics, a California cannabis distribution company.
Sunniva (CSE:SNN) announced the acquisition of LTYR Logistics, a California cannabis distribution company.
As quoted in the press release:
LYTR will play an instrumental role in driving Sunniva’s leadership position in California as a truly vertically integrated cannabis company across the entire value chain, from seed to sale.
Kevin V. Wilkerson (CEO) leads the LTYR team and has joined Sunniva as the Chief Operating Officer of Sun CA Holdings, Sunniva’s 100 [percent] owned California operating subsidiary. Mr. Wilkerson is a Harvard Masters degree graduate and has been a successful entrepreneur in numerous businesses. Kevin has been active in the cannabis space since 2014, providing operations, distribution logistics and technology expertise to the industry. He retired as a Colonel in the US Army after a distinguished 24 year career where he commanded over 4,000 troops and received the Bronze Star. In connection with the acquisition, Mr. Wilkerson will be responsible for all of Sunniva’s California operations.
“Over the last six months, we have evaluated several distribution opportunities to complement our vertical integration strategy with the goal of being able to sell all of the products we produce in our California facilities. Our operations and marketing teams have been working closely with the LTYR team analyzing consumer market data, demand metrics and pricing economics to better define all upcoming Sunniva product lines in preparation of our brand launches commencing in the first quarter of 2019. Kevin and his team are proven distribution, operations and execution specialists and we have the utmost confidence in their distribution capabilities as Sunniva ramps up for large-scale production in 2019 from both of our high-tech greenhouse and extraction facilities,” said Dr. Anthony Holler, CEO of Sunniva. “Over the past quarter, we have been actively manufacturing and stockpiling inventory for our brand launches and we are excited about achieving significant revenue from all our vertical growth opportunities in 2019.”