Texas' largest cannabis operator acquires 8th Wonder Brewery
HOUSTON - Two Houston companies are making a huge crossover (pun intended).
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Bayou City Hemp Company, the leading cannabis operator in Texas announced Wednesday it would be acquiring Houston's most well-known and respected staples, 8th Wonder Brewery, Distillery, and Cannabis.
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In their announcement, Bayou City explains how the acquisition is meant to culminate the artisanal expertise from the iconic 8th Wonder with the revolutionary science from Texas' largest, most trusted cannabis operators.
"We’re excited to welcome the 8th Wonder Team to the Bayou City Family," Benjamin Meggs, Chief Executive Officer of Bayou City Hemp Company said in a statement. "Our commitment to provide quality products and trusted brands to consumers is strengthened with 8th Wonder, who has been a Texas staple in craft beer and spirits for over a decade."
"We look forward to growing market share and distribution to the entire portfolio of products through expanded resources and combined expertise," he continued. "This is not merely an acquisition; it is a bold declaration of our intent to lead and innovate in the heart of Texas."
Tuesday's acquisition will be the first of its kind combining cannabis, craft beer, and spirits under one roof, distributed and sold jointly across the U.S.
"From day one at 8th Wonder, our goal was to build a hundred-year company," Ryan Soroka, co-founder and principal architect of the highly successful 8th Wonder brand explained. "This transaction will provide the leadership and resources needed to achieve that dream."
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In fact, the two companies say the transactions have a substantial promise for both Texas' beverage industry and the country's cannabis market, which they argue is expected to grow to more than $86 billion by 2030.
"We look forward to growing market share and distribution to the entire portfolio of products through expanded resources and combined expertise," Meggs concluded. "This is not merely an acquisition; it is a bold declaration of our intent to lead and innovate in the heart of Texas."
"We look forward to a refreshed and revitalized 8th Wonder as we move forward with Bayou City Hemp into the exciting future of the beverage and cannabis industries," Soroka added.