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VIA PROPER
Proper (which owns Honeybee) is now the largest Missouri-owned cannabis company
Proper Brands just carried out the "largest single business purchase in Missouri Cannabis" when it acquired Nirvana Investments, the parent company for N'Bliss Dispensaries, 5150 N'Fusion manufacturing and Bold Lane Logistics transportation, according to Greenway Magazine.
"Since the early days of the rollout of the medical program to the present day, both Proper and Nirvana have not only shared an emphasis on quality products, quality brands, quality service, and quality people, but we've worked together," Proper CEO John Pennington told Greenway. "We've built a great relationship. As we looked for growth opportunities, especially on the retail side, Nirvana checked every box."
St. Louis-based Proper already operated five retail locations in Bridgeton, Crestwood, south county and Warrenton. They also have a dispensary in Kansas City. The company will now add to that roster four N'Bliss retail locations in Ellisville, Festus, House Springs and Manchester.
Proper is now the state's largest Missouri-owned cannabis company, according to Greenway.
In addition to the dispensaries, Proper also acquired 5150 N'Fusion, which makes Lotus premium extracts, Refine cartridges, Wynk infused seltzers and Path extracts. The brands will join Proper's brands, which include Ratio which offers microdose mints and dose controlled vaporizers; the chocolate edibles of Honeybee and Goodnight's infused gummies and vapes. Proper also sells flower, vapes, cartridges and more under its own name.
"Having another manufacturing facility under our belt will allow us to further improve efficiencies and grow our lab team and our product offerings," Proper co-Founder Matt Labrier told Greenway. Labrier is also the chief operating officer for Proper.
Bold Lane Logistics was the last part of the acquisition, it is a company licensed to transport marijuana within the state of Missouri.
The acquisition will give Proper two transportation licenses and two manufacturing licenses. Consumers might not notice a change right away; Labrier told Greenway that they're going to take their time with making changes to N'Bliss.
"We want to take the time to educate ourselves on how the stores run and make a well-thought-out decision. They will eventually become Proper stores, but we're not going to rush it," he said.
The move also adds nearly 100 employees to Proper cannabis from Nirvana. Proper mentioned wanting to "optimize its workforce," though it did not reveal how that would impact jobs.
The Department of Health and Senior Services' Division of Cannabis Regulation has a backlog of requests for ownership changes, so until the purchase is approved, Proper is operating Nirvana licenses through a Management Service Agreement, according to Greenway.
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