nuEra Cannabis becomes vertically integrated
The Illinois cannabis industry continues into its fifth year of legalization, and the business market is not slowing down. Earlier this month, nuEra Cannabis announced the company had become vertically integrated with its new acquisition.
NuEra closed on the acquisition of the Illinois brand Ieso. Ieso holds one of only 20 full-scale cultivation licenses in the state. The transaction brings a substantial cultivation facility located in Murphysboro, IL, under nuEra’s umbrella, including:
- An 85,000 square-foot facility, of which 36,000 square feet are under greenhouse and indoor cultivation, with potential expansion capabilities of up to 210,000 square feet of flowering canopy
- A complete hydrocarbon extraction operation
- A commercial kitchen
- A license to transport cannabis products to dispensaries statewide
NuEra and Ieso were original licensees from the inception of the state’s pilot medical cannabis program in 2015. Privately owned, nuEra has grown and established itself as the third-largest cannabis market in the country. As part of the acquisition process, nuEra has been working with the Ieso team to revamp cultivar selection, cultivation practices, and sales and marketing strategies at the facility since early 2023.
NuEra has also announced plans to open a new dispensary in DeKalb by spring 2024. NuEra is under contract to reach the maximum dispensary count allowed in Illinois by year’s end, putting the family-operated company on equal footing in the state with the largest multistate operators.
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