Jade Coast Organic Farms, Inc (Jade) operates at 94 Hangar Way, Watsonville, California 95076. It has been operating since 2016, producing high quality indoor flowers and expects >$2MM revenue in the coming year. Jade was valued at $5,460,000 by Center Point Business Valuations, however the company and all of its assets are available for $4.2 MM. This is a perfect opportunity for a well-capitalized operator with an appetite for multi-state expansion who is seeking immediate penetration into the California marketplace.
Jade is currently flowering 3,700 sf. of the 5,000 sf. allotment and intends to get the remaining 1300 sf. into production by Q3 2021. They have successfully lobbied for an expansion allotment within city limits, up to 22,000 sf flowering canopy and 11,000 sf nursery, processing and distribution. This approximate 10x increase from 2019, and >6X increase from 2020 (not including the added multi license efficiency) should result in a proportional increase in gross revenue, pushing Jade to sales in excess of $10 MM annually.
|HIGH QUALITY FLOWER|
|On April 6, 2021 their most recent flower harvest tested at 34.7% THC and 42.6% cannabinoids.|
|Jade has negotiated below market lease rates along with other favorable terms for their current facility. This lease is extendable for 5 additional years.|
|Since executing the lease in 2016 they have put approximately $2 million into building upgrades.|
|Rare opportunity to step into a pre-existing entity with enthusiastic partners seeking to transfer business license. This license transfer allows prospective buyers a means to bypass lengthy application process and capitalize on the current cannabis boom immediately.|
|Jade has been approved for a total of 22,000 sf of canopy for flower, 11,000 sf of nursery and also distribution. They are currently only using 3,700 sf of canopy in their 9,200 sf building therefore their license can stay attached to the current building, (which will expand to 5,000 sf of canopy). The license also allows them to add an additional 17,000 sf of canopy at another location, as well as a nursery and distribution business.|
|Why are they selling?|
|The primary reason why ownership of Jade Coast Organic Farms is accepting potential offers for acquisition at this time has mostly to do with the visions of the owners about the path they intend to follow in the industry.|