DENVER — Spherex will acquire two cultivation facilities from The Cannabist Company (TCC) and its subsidiaries The Green Solution (TGS) and Rocky Mountain Tillage as part of TCC’s ongoing business restructuring. Financial details of the transaction were not disclosed.
The transaction represents Spherex’s first acquisition and a significant expansion of the company’s operations.
The expansion includes a Denver-area indoor cultivation facility and an outdoor cultivation operation in Trinidad, Colorado. Approximately 60 employees across the facilities are expected to join Spherex, growing the company to nearly 100 employees.
Spherex has sourced cannabis material from TGS for years, giving the company firsthand familiarity with the quality and consistency of the facilities’ output. Bringing cultivation capabilities in-house will give Spherex greater visibility and control across its supply chain while supporting more consistent access to the material used in its products.
The acquisition comes as Colorado’s cannabis supply chain continues to evolve, with declining cultivation capacity contributing to greater volatility in the availability, cost, and compliance of raw material. Earlier this year, Spherex experienced those pressures firsthand, including supply constraints that created production backups and delayed orders. Bringing cultivation capabilities in-house will help the company maintain operational efficiency and product availability.
Spherex will retain the existing leadership of the cultivation operations to oversee their day-to-day operations. The company expects the facilities to operate under the Spherex umbrella following completion of the transaction.
Spherex also emphasized the acquisition does not diminish the value of its relationships with independent Colorado cultivators. The company expects to continue working with cultivation partners as it integrates the new facilities and balances internally produced material with material sourced from the broader Colorado market.
Customers are not expected to see immediate changes as a result of the transaction and will continue working with the same Spherex sales teams, products, and points of contact.
