# Growing Cannabis Acquisitions Pure Harvest Successfully Acquires SKM Wellness Products By Kalin Ned | Published 2021-02-28 | Eco Source: Trend Hunter, https://www.trendhunter.com/trends/pure-harvest References: [globenewswire](https://www.globenewswire.com/fr/news-release/2020/08/24/2082664/0/en/Pure-Harvest-Corporate-Group-Completes-Acquisition-of-SKM-Dispensary.html) & [pureharvestcannabis](https://www.pureharvestcannabis.com/) In August, 2020, emerging cannabis and hemp-CBD holding company [Pure Harvest Corporate Group, Inc.](https://www.trendhunter.com/trends/legal-cannabis-clone) succeeded in acquiring Sofa King Medical Wellness Products, LLC (“SKM). The latter is a "vertically integrated cannabis company operating a dispensary, cultivation, and processing facility in Colorado. Founded in 2014, SKM opened a new dispensary in June 2020 which achieved massive growth in revenue over a very short period of time. Moreover, the retail space is state-of-the-art as it is "one of the only [solar-powered dispensaries](https://www.trendhunter.com/trends/retail-cannabis-presence) in the world." Primary founder Neale Gibbons who has had twenty-plus years of experience as a cannabis and hemp operator was excited about the acquisition. In a press release, he stated: "This is a milestone for both entities and it provides a solid foundation from which we will look to scale both nationally and internationally." Image Credit: Pure Harvest Corporate Group, Inc. ## Trend Insights (Trend Hunter) - Score: 3.4/10 - Popularity: 49% | Activity: 43% | Freshness: 9% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Eco](https://www.trendhunter.com/eco) ## Key Themes ### What's Driving This Trend - **Vertical Integration in Cannabis Industry:** Companies can adopt a vertically integrated model to streamline their operations, reduce costs, and increase revenue in the cannabis industry. - **Sustainability in Cannabis Retail Space:** Sustainability-focused innovation in retail space could create opportunities for companies looking to differentiate themselves in the cannabis industry. - **Consolidation in Cannabis Industry:** Consolidation in the cannabis industry can lead to increased market share and competitive advantage for companies looking to expand their reach. ### Who This Affects Most - **Cannabis Industry:** As the cannabis industry continues to grow, there are opportunities for companies to innovate within its various sectors. - **Renewable Energy Industry:** The cannabis industry's focus on sustainability presents new opportunities for innovation in the renewable energy industry. - **Mergers and Acquisitions Industry:** The trend of consolidation in the cannabis industry presents opportunities for investors and M&A firms to capitalize on the growing demand for cannabis products. ## Related on Trend Hunter - [Cannabis Company Expansions](https://www.trendhunter.com/trends/aurora-cannabis-inc.md) - [Diversified Cannabis Brand Portfolios](https://www.trendhunter.com/trends/preroll-brand-lime.md) - [Emerging German Cannabis Cultivators](https://www.trendhunter.com/trends/aurora-cannabis.md) - [Australian Cannabis Expansions](https://www.trendhunter.com/trends/aurora-cannabis-inc-1.md) - [Cannabis Brand Expansions](https://www.trendhunter.com/trends/superette-recently-acquired-cannoe.md) - [Sustainably Grown Cannabis Brands](https://www.trendhunter.com/trends/sustainably-grown-cannabis.md) - [Hemp-Infused Product Marketplaces](https://www.trendhunter.com/trends/ediblescom.md) - [Chic Cannabis Boutiques](https://www.trendhunter.com/trends/the-hemp-company-by-curaleaf.md) - [Expanded Hemp-Derived THC Lines](https://www.trendhunter.com/trends/hempderived-thc.md)