Gold Flora Acquires Airfield Supply Company - California's Largest Single-Site Dispensary and Retail Leader

COSTA MESA, Calif., Feb. 8, 2022 /PRNewswire/ -- Gold Flora, California's leading vertically-integrated single-state cannabis company, today announced it has acquired Airfield Supply Company – one of California's most innovative and respected retail brands. Also included in the deal is Airfield Supply Co.'s San Jose cultivation operations, facility and distribution licenses, Mountain View delivery licenses and operation, all proprietary intellectual property, and its premium product brands, which include Aviation Cannabis and Jetfuel Cannabis.

Arguably the largest single-site vertically-integrated cannabis retailer in California, both by customer count and annual gross revenue, the San Jose-based Airfield has on-site indoor cultivation facilities that include a 9,000-square-foot canopy and manufactures co-branded products within its 20,000-square-foot location near the San Jose International Airport. The company also has one of only two delivery licenses in Mountain View, CA – the Silicon Valley home to some of the world's most important technology companies, including Alphabet, Intuit, and LinkedIn. 

Established to serve the medical market as South Bay Healing Center in 2010 and rebranded to Airfield Supply Company in 2015, Airfield regularly sees well over 1,300 customers a day and is known for its premium retail aesthetic and innovative customer experiences — including their Tesla delivery fleet, proprietary ecommerce website, touchless pre-payment delivery solutions, experiential shopping buildouts, and nationally recognized marketing campaigns. The recipient of numerous accolades, including three prestigious 2021 international Clio Awards, Airfield is also a sustainability leader in the cannabis industry, bringing to market innovative packaging lines with Aviation and implementing a cannabis packaging waste recycling program for retail customers.

Airfield Supply Company's founder and CEO Marc Matulich will stay on in his role and retain ownership over immediate expansion efforts. Matulich is widely respected in the industry and looks forward to aligning his company with all that Gold Flora offers.

"We are honored to join Gold Flora. As a long-time collaborator of Airfield with shared values around innovation, customer experience, product strategy, and social and environmental responsibility, they're a natural partner for us," says Matulich. "We know that Gold Flora is perfectly positioned to dominate the market and move the cannabis industry forward. We are incredibly excited about Airfield's future with Gold Flora and look forward to working together in ways that will ultimately enhance the consumer experience for all California consumers." 

Gold Flora, a privately owned company, owns and operates a robust portfolio of cannabis companies and retail dispensaries throughout the state — including King's Crew dispensary in Long Beach and the Higher Level dispensary chain serving Hollister and Seaside. Gold Flora is also in the final competitive application process for retail locations in Costa Mesa and Corona. With this, the recent Airfield acquisition and both company's potential location expansion plans, Gold Flora anticipates an annual retail revenue rate at or about $150 million, making it one of California's largest retail operators.  

In addition to its retail footprint, Gold Flora has a 620,000 square-foot cannabis campus located in Desert Hot Springs, CA, where it houses the company's indoor cultivation, manufacturing, and extraction efforts, as well as its own distribution. With hubs throughout the state, the company sells and distributes for a dozen other prominent brands, including their own premium brand of Gold Flora products. At full buildout, Gold Flora's cannabis campus will be among the largest in California. 

Laurie Holcomb, founder and CEO of Gold Flora, says the acquisition of Airfield Supply Co. is one of the most important steps the company has yet taken to grow its footprint and accelerate its goal of becoming the leading vertically integrated operator in California. 

"We are thrilled to incorporate Airfield and their remarkable family of businesses into our portfolio," Holcomb says. "Marc has built an impressive organization, and we look forward to the multiple synergies that arise from this deal, and the benefits this will provide to our customers and the communities we serve."

Gold Flora's acquisition of Airfield Supply Company closed on December 31, 2021. Hyperion Capital Inc. acted as financial advisor to Gold Flora on the transaction. Merritt Advisory principals acted as financial advisor to Airfield Supply Company on the transaction. With several significant initiatives forthcoming in 2022, Gold Flora plans to keep Airfield Supply Co.'s brand, management, and staff intact. 

About Gold Flora
Gold Flora is a vertically integrated, single state operator based in Costa Mesa, California.  Gold Flora's platform includes cultivation, manufacturing, distribution, retail, and a portfolio of brands.  The company is affiliated with Gold Flora Farms — a unique, fully licensed cannabis complex in Desert Hot Springs — that houses one of the largest indoor grow facilities in the state.

Gold Flora is committed to providing the highest quality, fully tested, legal cannabis products in California. The company was built on a foundation of bringing trust, transparency, and high ethical standards to the rapidly evolving cannabis industry. It is also one of the few cannabis brands that is both vertically integrated and woman-owned and operated. For more information, visit goldflora.com. 

About Airfield Supply Company
Airfield Supply Company is a leading vertically-integrated full-service cannabis dispensary brand. Based in San Jose, CA, Airfield combines boutique-style retail experiences with a world-class selection of house-grown Aviation Cannabis and Jetfuel Cannabis products and third-party curated cannabis flowers, concentrates, topicals, and edibles. Since its launch in 2010, Airfield's mission has been to make the most out of life's journey every day. Airfieldsupplyco.com and Aviationcannabis.com #HighIsAPlace #AirfieldSupplyCo #AviationCannabis

HI-RES MEDIA KIT HERE

Gold Flora Media Contact
Innovation Agency
Randall Huft • [email protected] • 310-571-5592

Airfield Media Contact
Gretchen Giles • [email protected] • 707.570.7887
Amanda Doolittle • [email protected] • 415.913.9920

SOURCE Gold Flora

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