Sun Theory Holding Co. Acquires Terrapin Care Station’s Retail Operations in Colorado

LOS ANGELES- Sun Theory Holding Co. announced the acquisition of the Colorado retail operations of Terrapin Care Station, including five retail dispensaries, on Monday. This acquisition adds to Sun Theory’s existing portfolio of eight retail locations in Colorado, which includes the 3D Cannabis Center in Salida, the Rec Room in Durango, and six Roots Rx locations across Aspen, Basalt, Edwards, Gunnison, Leadville, and Vail.

In addition to the retail operations, Sun Theory Holding Co. owns the Evergreen Naturals cultivation and processing facilities and the Dialed In…Gummies brand. Connor Oman, CEO of Sun Theory Holding Co., stated that the acquisition is a perfect complement to their existing portfolio, focusing on delivering next-generation products and retail experiences that meet the evolving demands of cannabis consumers.

Despite the acquisition, Terrapin’s corporate headquarters will remain in Boulder, Colorado. Chris Woods, founder and chief executive of Terrapin, expressed that the past 15 years have been a foundational time for the company in trailblazing the global cannabis industry. He emphasized that the new partnerships allow Terrapin’s legacy to continue in Colorado while the company focuses on expanded cannabis reform in Pennsylvania.

Terrapin will maintain its medical cannabis operations in Pennsylvania, where it has been operating for nearly seven years. The company’s growth strategy in the state is focused on the adult-use cannabis market, which is anticipated to launch in the future. Governor Josh Shapiro supports the reforms, although Republican lawmakers remain opposed. Terrapin offers five medical cannabis brands in Pennsylvania and operates as an independent grower/processor.

Oman highlighted that the expansion in Colorado aligns with Sun Theory’s objective of partnering with businesses that demonstrate sound management, customer commitment, solid financials, and potential for market share expansion. He described Terrapin Care Station as an ideal fit for these criteria.