ManifestSeven Expands Capacity with Purpose-Built Brisbane Facility
March 30th, 2021
News, Top Story
ManifestSeven Holdings Corporation (CSE: MSVN) (OTC: MNFSF) is building a full-service distribution network combined with an omnichannel retail strategy in the world’s largest cannabis market. With the opening of its fully licensed multi-purpose facility in Brisbane, California, the company passed a significant strategic milestone in its Northern California expansion.
Let’s take a look at what the new facility means for the company and why investors may want to take a closer look at the stock following the move.
A Win-Win to Expand Capacity
ManifestSeven has been active in Northern California through its Oakland-based distribution facility since 2018. With its new purpose-built Brisbane-based facility, the company can further build out its presence in the region with greater inventory capacity and improved local on-demand delivery for its direct-to-consumer Weden division.
Watch CEO Sturges Karban discuss M7’s NoCal business model
The expansion targets cultivators and producers in the so-called Emerald Triangle, which is the state’s premier cannabis-producing region. In addition, the expansion targets more than three million retail customers over 21 years old in the San Francisco Peninsula submarket along with the more than 65 million visitors per year to the area with convenient delivery services.
The Brisbane facility will replace the Oakland facility as its new centralized distribution and logistics hub serving the Northern California cannabis market, covering cultivators, manufacturers, distributors and retailers across 48 counties while the Oakland facility will become a delivery-only business to enhance service to the local Oakland area.
Improving Service & Delivery
ManifestSeven CEO Sturges Karban compares on-demand cannabis delivery to cell phone towers in the 1990s—more locations translate to greater market access and a better customer experience. The company’s goal is to minimize delivery times and maximize availability by creating smaller and smaller radii for local delivery.
CEO Sturges Karban discusses M7’s on-demand cannabis system
To this end, the company more than tripled the size of its cannabis delivery fleet in conjunction with the higher-capacity distribution center. The Brisbane facility offers 65% more space for high-volume inventory as well as ample on-site parking for the expanded delivery fleet, enabling faster service to customers across a wider region.
In addition to local delivery, the expanded fleet enables the company to improve logistics and routing to provide commercial clients with more rapid and reliable fulfillment on a long-haul basis to the rest of the state. These improvements should optimize operating efficiencies and contribute to near-term margin accretion across statewide operations.
Putting the Pieces Together
The new infrastructure upgrades have positioned the company to offer services to reach a broader range of companies interested in distribution and provide a wider selection of finished goods to both dispensary customers via its Highlanders Distribution business and retail customers through its Weden business.
For example, the company recently announced two new distribution partnerships, one with Eel River Organics, one of California’s leading manufacturers of award-winning concentrates and extracts, and a second with Cream of the Crop, a top 10 California flower brand. Under the partnerships, ManifestSeven will leverage its expanded Highlanders statewide distribution infrastructure and vehicle fleet to serve these two leading cannabis brands, while also adding the popular products to Weden’s menu of options for retail consumers.
These types of distribution agreements could further accelerate revenue growth and generate long-term shareholder value as the company further entrenches itself as a leader in California’s market.
ManifestSeven Holdings Corporation’s (CSE: MSVN) (OTC: MNFSF) new Brisbane-based facility marks a significant turning point in its Northern California expansion efforts. By expanding its logistics and distribution footprint, the company is better positioned to grow in the region and improve its statewide transportation and distribution efficiency.
The company will release its fourth quarter and full year 2020 financial results on March 31, 2021 at 7:30 a.m. EST. With the double-digital revenue growth and a move to profitability seen in the third quarter, investors will be looking for more of the same in the upcoming financial results. EST. Interested parties can dial-in toll-free 1-877-423-9813 or internationally at 1-201-689-8573 or view the webcast at: https://www.manifest7.com/investors/.
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
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