ManifestSeven Acquires Haven Pharmacy to Expand Cannabis Retail and Delivery Operations

On August 22, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that cannabis supplier ManifestSeven (M7) announced the acquisition of Haven Pharmacy in Santa Ana, California, USA. Specific details of the transaction have not been disclosed.

Upon completion of this acquisition, Haven Pharmacy will serve as the flagship store of Weden Retail Dispensary and Delivery (Weden) and will be renamed Weden Santa Ana. Weden is a B2C brand under M7, operating physical retail and delivery services in California.

It is reported that M7 had previously completed three acquisitions: acquiring Weden on June 18, 2019; acquiring the cannabis ordering website MyJane on February 6, 2019; and acquiring the e-commerce website Puff Pack on September 4, 2018.

Haven Pharmacy primarily operates cannabis retail and delivery services. The pharmacy holds a temporary license issued by the California Department of Cannabis Control and is one of 30 approved adult-use cannabis retailers in Santa Ana, California. Santa Ana is currently the only jurisdiction in Orange County, California, that permits cannabis sales. Located near four major highways, Haven Pharmacy provides safe, high-quality cannabis products to more than two million residents aged 21 and older through its brick-and-mortar store, online ordering, and delivery services.

M7, formerly known as MJIC, was founded in 2014 and is headquartered in California, USA. It is a cannabis supplier primarily engaged in cannabis retail operations, including brick-and-mortar dispensaries, local on-demand delivery services, and online ordering platforms. Additionally, M7 offers business planning, compliance analysis, accounting and financial services, and investment analysis tailored to the cannabis industry. The company has established a cannabis distribution network covering the San Francisco Bay Area and the city of San Diego, serving licensed operators across the entire cannabis supply chain. To date, M7 has accumulated over 70,000 customers and completed more than 300,000 cannabis retail transactions.

Weden, a subsidiary of M7, is an online cannabis sales platform that provides users with online ordering and delivery services for cannabis products. The platform has also developed a mobile application, enabling users to place orders from anywhere via their smartphones, purchase cannabis products at the most competitive prices, and receive door-to-door delivery within 30 minutes.

M7 Chief Operating Officer Pierre Rouleau is an entrepreneurial executive who has achieved repeated success in the cannabis, high-tech, and aviation industries, leveraging his exceptional strategic insight and operational acumen. With over 20 years of international business experience, Rouleau joined M7 in 2018.

Pierre Rouleau stated, “This acquisition marks the first step in our B2C strategy, with Haven Pharmacy delivering convenient and efficient services to customers in California. Located in the heart of a high-income area in the United States, the pharmacy is poised for rapid growth and will generate substantial revenue for M7.”

(Compiled by Hu Yifan)