Bonsai Brands, an intellectual property holding company and licensed infused cannabis manufacturer based in Napa, has been acquired by Perfect Union, a Sacramento-based chain of dispensaries.
Perfect Union, which recently opened a Napa Valley store, also named Kyle Marshall, founder of Bonsai Brands, as director of infused products. Financial terms of the deal, announced Wednesday were not disclosed.
Napa was among the eight new stores Perfect Union opened in the last 18 months, with others in Seaside, Riverbank, Morro Bay, Turlock, Shasta Lake and Ukiah. The company now has 13 stores.
Perfect Union CEO Denyelle Bruno highlighted access to the infused product market with the company’s latest acquisition.
“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.”
“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