New Delhi [India]: Indian-American Businessman Nitin Khanna entered California with his Cannabis business, the fastest growing industry in America. As more states legalize recreational use, the demand for premium cannabis is expected to increase. With a population of 39.1 million, California is the largest market in America within this industry; it was also the first state to legalize the medical use of marijuana back in 1996.
Nitin Khanna is the CEO of MergerTech, an international Mergers and Acquisitions advisory firm, where he along with his team of highly experienced bankers incorporate their deep domain expertise and buyer relationships on the global platform for strategic or financial buyers, enabling their clients to convert their work into wealth through M&As.
Taking a step forward in this direction, Nitin Khanna’s Portland-based Cura Cannabis Solutions, already the leading provider of cannabis vape cartridges and oil in Oregon, will manufacture and market premium oils, concentrates and cannabis products in the United States.
Cura’s new facility in South East Portland will begin offering “Select” branded CBD (cannabidiol hemp oil) cartridges. The CBD cartridges will be available online and retail locations in select regions in the United States.
Commenting on the growth, Nitin Khanna, CEO, Cura, said, “We are always scouting for exciting high growth businesses and entered the Cannabis business after a thorough study of its potential after it got legalized in the United States. Cura has undergone extremely fast growth since we started in 2016 and the further growth potential is enormous as the total North America sales of Cannabis are expected to be USD 20.2 billion by 2021 according to some reports.”
Cura’s vape cartridge brand, “Select”, provides consumers with the most flavorful, effective, safe and enjoyable vape experience in the market.
Cura currently operates three facilities in Portland. The company witnessed significant growth over the past year, which is evident from the spike in the workforce. Last year, it added over 100 employees, taking the total tally to 125.
In order to cater to the growing demand, the company is planning to have a new 10,000 square-foot facility in Sacramento with plans to open another in Los Angeles. The company is also planning to add 125 more employees by the end of this year. (ANI)