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.”