Glass House Brands and LEEF Announce MSA for The Leaf El Paseo Dispensary and Off-Take Agreement
Glass House Brands (GLASF) and LEEF Brands have announced a Management Services Agreement (MSA) where Glass House will manage LEEF's Palm Desert dispensary, The LEAF El Paseo. Under the one-year agreement, Glass House will handle all dispensary operations, including product sales, inventory management, and employee oversight.
The partnership includes an off-take agreement where LEEF will secure a significant portion of its annual raw cannabis material from Glass House for its extraction operations. Glass House's retail team has demonstrated strong performance with five consecutive quarters of same-store sales growth, outperforming the California market by over 30% in their most recent quarter.
Glass House Brands (GLASF) e LEEF Brands hanno annunciato un Accordo di Servizi di Gestione (MSA) in base al quale Glass House gestirà il dispensario Palm Desert di LEEF, The LEAF El Paseo. Nell'ambito di questo accordo annuale, Glass House si occuperà di tutte le operazioni del dispensario, inclusi la vendita dei prodotti, la gestione dell'inventario e la supervisione del personale.
La collaborazione prevede anche un accordo di fornitura mediante il quale LEEF acquisirà una parte significativa del suo materiale grezzo annuale di cannabis da Glass House per le sue operazioni di estrazione. Il team retail di Glass House ha mostrato ottime performance con cinque trimestri consecutivi di crescita delle vendite a parità di negozio, superando il mercato californiano di oltre il 30% nell'ultimo trimestre.
Glass House Brands (GLASF) y LEEF Brands han anunciado un Acuerdo de Servicios de Gestión (MSA) en el que Glass House administrará el dispensario Palm Desert de LEEF, The LEAF El Paseo. Bajo este acuerdo de un año, Glass House se encargará de todas las operaciones del dispensario, incluyendo ventas de productos, gestión de inventario y supervisión del personal.
La asociación incluye un acuerdo de compra mediante el cual LEEF asegurará una parte significativa de su materia prima anual de cannabis a Glass House para sus operaciones de extracción. El equipo minorista de Glass House ha demostrado un desempeño sólido con cinco trimestres consecutivos de crecimiento en ventas en tiendas comparables, superando al mercado de California en más del 30% en su trimestre más reciente.
Glass House Brands (GLASF)와 LEEF Brands는 Glass House가 LEEF의 팜 데저트 디스펜서리인 The LEAF El Paseo를 관리하는 경영 서비스 계약(MSA)을 발표했습니다. 1년 계약에 따라 Glass House는 제품 판매, 재고 관리, 직원 감독 등 디스펜서리 운영 전반을 담당합니다.
이번 파트너십에는 LEEF가 추출 작업을 위해 연간 원료 대마초의 상당 부분을 Glass House로부터 확보하는 구매 계약도 포함되어 있습니다. Glass House의 소매 팀은 최근 5분기 연속 동일 점포 매출 성장으로 캘리포니아 시장보다 30% 이상 뛰어난 성과를 보여주었습니다.
Glass House Brands (GLASF) et LEEF Brands ont annoncé un accord de services de gestion (MSA) selon lequel Glass House gérera le dispensaire Palm Desert de LEEF, The LEAF El Paseo. Dans le cadre de cet accord d'un an, Glass House prendra en charge toutes les opérations du dispensaire, y compris la vente des produits, la gestion des stocks et la supervision du personnel.
Le partenariat comprend un accord d'approvisionnement par lequel LEEF s'assurera une part importante de sa matière première annuelle de cannabis auprès de Glass House pour ses opérations d'extraction. L'équipe de vente au détail de Glass House a démontré une performance solide avec cinq trimestres consécutifs de croissance des ventes en magasins comparables, dépassant le marché californien de plus de 30 % lors de leur dernier trimestre.
Glass House Brands (GLASF) und LEEF Brands haben eine Management-Dienstleistungsvereinbarung (MSA) bekannt gegeben, bei der Glass House die Leitung des Palm Desert-Dispensars von LEEF, The LEAF El Paseo, übernimmt. Im Rahmen der einjährigen Vereinbarung wird Glass House alle Dispensar-Betriebsabläufe übernehmen, einschließlich Produktverkauf, Bestandsverwaltung und Mitarbeiteraufsicht.
Die Partnerschaft umfasst auch eine Abnahmevereinbarung, bei der LEEF einen bedeutenden Teil seines jährlichen Rohcannabismaterials von Glass House für seine Extraktionsprozesse beziehen wird. Das Einzelhandelsteam von Glass House hat mit fünf aufeinanderfolgenden Quartalen mit Wachstum bei den Umsätzen in bestehenden Geschäften eine starke Leistung gezeigt und den kalifornischen Markt im letzten Quartal um über 30 % übertroffen.
- Glass House expands retail presence into the Palm Springs market through management of an additional dispensary
- Agreement includes significant off-take arrangement for raw cannabis material
- Glass House's retail operations show 5 consecutive quarters of same-store sales growth
- Retail revenue growth outperformed California market by over 30% in latest quarter
- None.
LONG BEACH, Calif. and TORONTO, May 14, 2025 (GLOBE NEWSWIRE) -- Glass House Brands Inc. ("Glass House" or the "Company") (CBOE CA: GLAS.A.U) (CBOE CA: GLAS.WT.U) (OTCQX: GLASF) (OTCQX:GHBWF) – one of the fastest-growing, vertically integrated cannabis companies in the United States, and LEEF Brands, Inc. (CSE: LEEF) (OTCQB: LEEEF), one of California’s premier vertical extraction companies, today announced a Management Services Agreement (“MSA”). Under the MSA, Glass House will manage operation of LEEF’s Palm Desert, CA dispensary “The LEAF El Paseo” on behalf of LEEF.
This mutually beneficial agreement grants Glass House exclusive rights to manage all dispensary operations, including, but not limited to, the sale of cannabis products, the purchase of cannabis product inventory, and employee management, for an initial period of one year, with the potential for extension. This agreement is the first of Glass House’s retail management services which it began offering in 2024.
Glass House will assume daily management responsibilities of The Leaf El Paseo, allowing Glass House to expand its retail operations in California while enabling LEEF to focus on its core business as a premier concentrate provider. The agreement includes an off-take agreement from Glass House to LEEF, securing a significant portion of the annual raw cannabis material required to power LEEF’s extraction lines.
“We are excited to work with LEEF, a respected peer in California under this agreement, as we expand our exposure to the Palm Springs market for both retail and wholesale contributions,” said Kyle Kazan, Co-Founder, Chairman and CEO of Glass House Brands. “This MSA agreement, represents the continued development of our retail operation and reflects our strength and overall solid position in the California market. Through execution and on the benefit of the strategic pricing initiatives that we implemented last year, our retail team has seen same store sales increase on an annualized basis for five consecutive quarters despite continued challenging market conditions, and in our most recent quarter retail revenue growth outperformed the California market by more than
“Collaborating with Glass House Brands elevates The Leaf El Paseo and secures a favorable off-take agreement that fulfills a significant portion of our annual supply chain needs for our extraction business,” said Micah Anderson, CEO of LEEF Brands. “This partnership is a true win-win, allowing LEEF to sharpen our focus on being a leading concentrate provider while enabling Glass House to expand its retail footprint in California. This agreement strengthens LEEF’s production capacity and lays the foundation for broader strategic partnerships with Glass House.”
About Glass House Brands
Glass House is one of the fastest-growing, vertically integrated cannabis companies in the U.S., with a dedicated focus on the California market and building leading, lasting brands to serve consumers across all segments. From its greenhouse cultivation operations to its manufacturing practices, from brand-building to retailing, the company's efforts are rooted in the respect for people, the environment, and the community that co-founders Kyle Kazan, Chairman and CEO, and Graham Farrar, Board Member and President, instilled at the outset. Whether it be through Its portfolio of brands, which includes Glass House Farms, PLUS Products, Allswell and Mama Sue Wellness or its network of retail dispensaries throughout the state of California, which includes The Farmacy, Natural Healing Center and The Pottery, Glass House is committed to realizing its vision of excellence: outstanding cannabis products, produced sustainably, for the benefit of all. For more information and company updates, visit www.glasshousebrands.com/ and https://ir.glasshousebrands.com/contact/email-alerts/.
About LEEF Brands, Inc.
LEEF Brands Inc. is a leading California-based extraction and manufacturing cannabis company, recognized for its large-scale vertical integration and as one of the state’s most sophisticated operators. With a comprehensive supply chain, cutting-edge manufacturing processes, and a dynamic bulk concentrate portfolio, LEEF powers some of the largest brands in the country. For more information, visit www.LeefBrands.com.
Forward Looking Statements
This news release contains certain forward-looking information and forward-looking statements, as defined in applicable securities laws (collectively referred to herein as “forward-looking statements”). Forward-looking statements reflect current expectations or beliefs regarding future events or the Company’s future performance or financial results. All statements other than statements of historical fact are forward-looking statements. Often, but not always, forward- looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “continues”, “forecasts”, “projects”, “predicts”, “intends”, “anticipates”, “targets” or “believes”, or variations of, or the negatives of, such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved. Forward-looking statements in this news release include, without limitation, statements regarding the Company’s financial outlook or operational plans and statements related to future market conditions. All forward-looking statements, including those herein, are qualified by this cautionary statement. Although the Company believes that the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. Accordingly, readers should not place undue reliance on forward-looking statements. There are certain factors that could cause actual results to differ materially from those in the forward-looking information, including those risks disclosed in the Company’s Annual Information Form available on SEDAR+ at www.sedarplus.ca and in the Company’s Form 40-F available on EDGAR at www.sec.gov. For more information on the Company, investors are encouraged to review the Company's public filings on SEDAR+ at www.sedarplus.ca. The forward-looking statements and financial outlooks contained in this news release speak only as of the date of this news release or as of the date or dates specified in such statements. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For further information, please contact:
Glass House Brands Inc.
Jon DeCourcey, Vice President of Investor Relations
T: (781) 724-6869
E: ir@glasshousebrands.com
Investor Relations Contact:
KCSA Strategic Communications
Phil Carlson
T: 212-896-1233
E: GlassHouse@kcsa.com
FAQ
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