Calma West Hollywood, a cannabis dispensary on the corner of La Brea and Lexington, has been acquired by The Parent Company for $11.5 million.
The Parent Company, backed by entertainment mogul Jay-Z, is fast becoming a major force in the California cannabis industry. The acquisition of Calma increases The Parent Company’s current California retail footprint to four, with two operating locations in San Jose and one in Bellflower.
The 3,250 square foot dispensary is one of only ten stores in the West Hollywood area that is licensed for both delivery and storefront retail. Calma’s founders will remain at the helm of their business.
“The Calma team is thrilled for the next phase of its growth as part of The Parent Company,” said Cobby Pourtavosi, Calma’s founder. “The Parent Company shares our relentless belief in prioritizing consumer experience and will be a contributing member of the West Hollywood community for years to come.”
Calma has literally been a rare bright spot on our otherwise dismal strip of La Brea Blvd. The lighting and security help make this area more inviting for pedestrians but the area still is blighted by dangerous dark areas that make Eastside residents avoid that part of La Brea. But as an Eastside resident I am happy that Calma has been a pioneer along La Brea.
As long as LA City is across the street, La Brea will always be compromised.
Agreed 100%. Calma has been a fantastic neighbor.
How about The Parent Company prioritizing “cannabis free air” instead of their stated but fairly euphemistic, consumer experience.