Wednesday, April 26, 2023
Schwazze (OTCQX:SHWZ, NEO:SHWZ) is building a premier vertically integrated regional cannabis company with assets in Colorado and New Mexico and will continue to take its operating system to other states where it can develop a differentiated regional leadership position. Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. The Company is committed to unlocking the full potential of the cannabis plant to improve the human condition. Schwazze is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. The Company’s leadership team has deep expertise in retailing, wholesaling, and building consumer brands at Fortune 500 companies as well as in the cannabis sector. Schwazze is passionate about making a difference in our communities, promoting diversity and inclusion, and doing our part to incorporate climate-conscious best practices.
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Another Acquisition. Schwazze announced the Company signed definitive documents to acquire certain assets of Sucellus, LLC. In the proposed acquisition, the Company will manage Everest Apothecary, Inc. and will be for $38 million in a combination of cash, a four-year seller note, and Company stock. It is expected to close in 2Q23.
Who is Everest? Everest is a not-for-profit company established in 2016 consisting of 14 dispensaries located in Albuquerque, Santa Fe, Las Cruces, Los Lunas, Sunland Park, Belen, and Texico, and also consists of approximately 16,000 square feet of cultivation and a 8,500 square foot manufacturing facility. The acquisition is similar to the R. Greenleaf acquisition done by Schwazze in 2022, where 10 dispensaries, four cultivation facilities, and a manufacturing facility were acquired for $42 million.
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