New Jersey Cannabis Grows with New Acreage Facility

Recently, Acreage Holdings, Inc. (Acreage), announced in their press release (1), that the company had expanded their facility located in Egg Harbor Township, New Jersey. In the expansion, the building underwent a renovation which included upgrades regarding processing and cultivation. With these improvements Acreage will be able to expand on products the company offers in the Garden State (1). Along with the enhancement to the location, the company will be able to boost their employee headcount by 15% in the first quarter of 2024 which will help New Jersey’s cannabis industry grow.

“We are absolutely thrilled to have completed the expansion of our Egg Harbor Township facility,” Sharon Ali, Executive Vice President, Mid-Atlantic Region at Acreage, commented (1). “New Jersey is one of our cornerstone markets, where we continue to bolster our position as a leading operator in the state. These enhancements are timely, as the state continues to present a tremendous opportunity for the expansion of our in-house brand product suite. Demand for our wholesale and retail offerings in New Jersey has remained persistent, as demonstrated by our record month of wholesale sales in August. This new capacity enables us to produce a larger and more diversified offering for two of the most popular segments in the market – premium flower and edibles – as well as top-selling concentrates for Superflux, which are anticipated to reach consumers by year-end.”

“With our expanded canopy, new genetics, and a wider breadth of extraction and processing capabilities, we will increase our competitive position in the state. These leading-edge upgrades position us strongly to meet the high market demand, and we expect to launch new, innovative products across a range of formats to New Jersey consumers in the first half of 2024,” Ali added (1).

To learn more about their expansion upgrades to Egg Harbor Township facility, check out their press release here: https://www.globenewswire.com/news-release/2023/12/07/2792395/0/en/Acreage-Deepens-New-Jersey-Operations-with-Completion-of-Egg-Harbor-Facility-Expansion.html.

Reference

1. Acreage Holdings, Inc. Acreage Deepens New Jersey Operations with Completion of Egg Harbor Facility Expansion https://www.globenewswire.com/news-release/2023/12/07/2792395/0/en/Acreage-Deepens-New-Jersey-Operations-with-Completion-of-Egg-Harbor-Facility-Expansion.html (accessed Dec 7, 2023).