GW SIGNS AGREEMENT TO ACQUIRE FOSTER BUDS
Groundworks Industries, a Portland-based vertically-integrated cannabis company, has agreed to acquire recreational dispensary Foster Buds. With two locations across the eastside, Foster Buds’ thoughtful selection provides relief to both recreational and medical customers.
“Foster Buds is taking a step towards broadening our market reach and further investing in growth by becoming a part of the GW family,” says Katya Ogai, CEO of Foster Buds. “Over the past five years, we’ve been operating as a stand-alone company and while we’ve accomplished significant milestones, now is the optimal time for our talented staff and established brand name to emerge on the next level of the cannabis industry arena."
This agreement comes out of Groundworks’ increasing investment in Oregon, the ultimate goal of which is transforming the perception of the whole cannabis industry and spreading the cannabis conversation beyond the borders of this progressive adult use community. The acquisition is subject to customary closing conditions and receipt of regulatory approval, including from the Oregon Liquor Control Commission.
Established in Portland in 2014, Groundworks Industries employs over 150 Oregonians. Brands include the most compliant, scientifically-rigorous and forward-thinking leaders in cannabis, with more announcements to come among these efforts to strengthen and fortify the Oregon market.
Learn more at gw-ind.com.