Foley & Lardner LLP served as legal advisor to Cloud Cannabis, one of Michigan’s leading cannabis retailers, in the sale of its retail locations to Stash Ventures.
Cloud Cannabis’ previous owners will retain their cultivation, extraction, processing, and manufacturing operations, and Cloud Cannabis will continue to operate under its current brand name to preserve its well-established market position.
Cloud Cannabis was founded in 2020 by a group of Michiganders, with a mission of elevating the health and happiness of its customer base, helping them to “live higher” by providing a full range of cannabis products to fit consumers’ individual needs.
Stash Ventures is one of the largest cannabis investors in Michigan. As a vertically integrated cannabis company, Stash Ventures has access to growing, processing, and retail sale licenses, and has quality control from seed to sale. Through its notable brands Timber Cannabis Co., High Minded, and High Minded Creations, Stash Ventures currently has facilities in Mount Pleasant, Owosso, and Sturgis, Michigan. The acquisition of Cloud Cannabis will allow the company to grow its customer base throughout the state.
The Foley deal team was led by partner Rob Nederhood and included associates Caleb Erbert and Shelby Engelbrecht.
