ML Capital Group Announces Letter of Intent to Acquire Spanish Peaks Scrumpdelicacies, Entering Into the $7 Billion Dollar Cannabis Sector
MIAMI, January 4, 2017 /PRNewswire/ —
ML Capital Group (MLCG), a diversified holding company, is expanding its presence in the luxury and specialty travel markets with the pending acquisition of Spanish Peaks Scrumpdelicacies, a venture-backed producer of cannabis-infused edibles based in Colorado. MLGC will leverage this acquisition to launch a new, specialty tourism sector focused exclusively on cannabis-related travel experiences.
MLGC has an established presence in the luxury travel market, highlighted by Platinum Tours of Maui, it’s flagship investment offering unrivalled tour experiences on Maui. Spanish Peaks Scrumpdelicacies has established backing, and is poised to thrive in the burgeoning legal cannabis market, which Forbes predicts will reach nearly $7 billion in sales by the end of 2016, and which Bloomberg predicts will reach $50 billion in the next ten years.
In addition, Spanish Peaks Scrumpdelicacies is already in a “go-to-market” phase, after entering into an agreement with Puration, Inc. (PURA) to develop a line of cannabis infused beverages. This established and growing presence, in conjunction with MLGC’s success in the specialty and luxury travel sector, illustrate the potential of two innovators working together to leverage a fundamental shift in American policy, and an exploding market.
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