Founding employees purchase distressed Oregon cannabis operation, commit to stabilization and long-term growth strategy
PORTLAND, OR – January 1, 2023 – LTRMN Inc., one of Oregon’s pioneering recreational cannabis operators and brand houses, today announced it has been acquired by Buchanan Group, a collective of the company’s original founders and early employees, in a $250,000 transaction with Unrivaled Brands (OTCQB:UNRV).
The acquisition returns LTRMN to local ownership and control, marking a new chapter for the Portland-based company that operates cannabis distribution and wholesale activities across Oregon. Unrivaled Brands has divested its stake in the operation, enabling the founding team to chart an independent course forward.
“We’re bringing LTRMN home,” said Colin Landforce, former COO and incoming CEO. “The LTRMN brand has been important to me for more than 10 years – long before cannabis – and the operation and brands deserve the attention we’ll give them. This was built by Oregonians for Oregonians, and we’re committed to stabilizing operations and positioning LTRMN for sustainable success in Oregon’s evolving cannabis market.”
The new ownership group brings deep institutional knowledge and industry relationships cultivated since LTRMN’s early days as one of Oregon’s first recreational cannabis operators. The team’s immediate focus will be on operational stabilization, followed by a comprehensive evaluation of the company’s brand portfolio and market position to determine the optimal path forward.
As a legacy brand house with established distribution infrastructure and market presence, LTRMN is well-positioned to revitalize it’s STICKS and Cabana brands under founder leadership. The acquisition enables rapid decision-making and strategic pivots necessary to compete in Oregon’s highly competitive cannabis landscape.
About LTRMN Inc. Founded as one of Oregon’s first recreational cannabis operators, LTRMN Inc. is a Portland-based brand house and distribution company serving the Oregon cannabis market. The company operates wholesale and distribution activities throughout the state.