New Leaf Ventures Subsidiary Forges Manufacturing Services Agreement

New Leaf Ventures Inc. (NLV), an investment and management organization that evaluates, invests, and is working on advancing stage operations in the North American cannabis industry, recently announced that their subsidiary, New Leaf Services LLC (New Leaf Services), has formed a manufacturing services agreement with Anonymous Buffalo LLC (Anonymous Buffalo) in the state of Washington (1).

Labor for processing and co-packing of specific products will be provided by New Leaf Services for Anonymous Buffalo at New Leaf Enterprises licensed facility. Anonymous Buffalo will have distribution rights for several brands in Washington State. In their agreement, predetermined product listings within the brand portfolios, will be processed and packaged with all materials provided by Anonymous Buffalo. One of the brands included is “Solstice”. Finished products will be delivered to Anonymous Buffalo where they will then be distributed to their customer base throughout Washington.

Dax Colwell, CEO of New Leaf USA and Director of New Leaf Ventures commented (1), “This is a strategic move that further supports our continuous strategy to advance efforts in building out processing and distribution capabilities here in Seattle. Consolidation of the Washington market is happening and teaming with other brands to create centralized processing and distribution will be key in the evolution of the cannabis industry in Washington. New Leaf is working hard to be at the forefront of this necessary consolidation and strives to be the go-to hub for brands alike.”

Reference

1. https://www.globenewswire.com/news-release/2023/04/12/2645412/0/en/New-Leaf-Ventures-Subsidiary-Announces-Manufacturing-Services-Agreement.html.