It had been a long time coming for SLANG Worldwide, but they finally got it done. After a protracted closing process which had been many months in the making, the company finally announced the closure of its Allied Concessions Group acquisition.
Although it had been operating it under defacto control for the past few months, the assimilation of business operations in an important milestone for SLANG Worldwide. ACG is a pivotal cog in for the production of goods in SLANG’s core markets, and produces the company’s most popular branded cannabis products in Colorado. ACG is comprised of two different manufacturing and distribution facilities that extract both hydrocarbon and CO2 oil for all SLANG branded products in-state.
The reason that’s so important that it finally got done is a couple of things. First, it’s where the absolute lion’s share of our products are produced in our biggest market which is Colorado. So, all O.pen, all Firefly, all Bakked, all Pressies are produced out of the two facilities that comprise ACG. So getting that finally done and done it really is just locking up an integral part of what we do here in Colorado which I mentioned is our largest market.Chris Driessen, CEO of SLANG Worldwide
Another focus for the company has been to consolidate sales capture metrics in a way most investors can understand. Chris explains how the company is tracking something called Gross Merchandise Value (GMV), which is the total value of merchandise sold over a given period through a customer-to-customer exchange site. The idea is to increase GMV as much as possible, while simultaneously capturing the highest possible percentage of GMV.
It’s a simplified way to consolidate the amount of revenue capture vs. the total value of merchandise sold through all outlets. But given the amount of SKUs, channels and jurisdictions SLANG Worldwide deals with throughout North America, it’s a great way for investors to obtain a snapshot of SLANG’s relative sales prowess and distribution growth in any given reporting period. And right now, the needle is steadily moving higher.
Click on the embedded link for more of our newest interview with SLANG Worldwide CEO Chris Driessen, in his own words.