News

Avant Brands officially takes control of Flowr Okanagan

Published on February 6, 2023 by Okanagan Journal

Photo: Contributed/BLK MKT

Popular cannabis grower Avant Brands has officially acquired The Flowr Corporation’s former grow facility in Kelowna, sharply increasing its output.

Sold in pot stores under the names BLK MKT and Tenzo, Avant Brands’ buds are going to be cultivated at the purpose-built facility in an industrial area near Lake Country.

“The Flowr facility remains fully operational and is expected to increase Avant’s production capabilities by approximately 60%, which has the potential to make Avant one of the largest indoor producers of high-quality cannabis in Canada,” says Avant in a strategic update in January.

Based in Kelowna, Avant bought The Flowr Corporation’s facility, known as Flowr Okanagan, for about $3.85 million, plus $1.3 million in Avant shares. The new infrastructure bumps up its space by 185,000 square feet, a 60% increase in production capacity says the company.

The company also has growing operations in nearby Vernon, as well as Alberta and Ontario.

Avant made a ‘stalking horse’ bid to snatch up that portion of Flowr’s operations after the company filed for creditor protection.

Flowr’s facility near Lake Country was co-owned by Hawthorne, connected to Scotts Miracle-Gro. Hawthorne purchased the neighbouring R&D facility.

Meanwhile, Avant’s subsidiary, GreenTec Holdings, finished its acquisition of 3PL Ventures in Vernon for $15 million in cash and shares. Avant already owned more than 50% of the company prior to the acquisition.

Avant CEO Norton Singhavon says it’s all part of the company’s long-term growth strategy, and that it’s striving to fulfill the increasing demand for its products.

Avant says it plans to make “certain modifications to production processes at the Flowr facility throughout the 2023” to align with Avant’s methods.

BLK MKT has numerous strains currently available, including Jealousy. Tenzo has flower and vape products. Avant has two other brands, Cognōscente and Treehugger, which revolve around niche offerings and sustainability.

Avant plans to launch new cultivars this year, and says it will also continue to explore contract growing or more acquisition to keep up with any unmet demand.

The company produced 5,729 kilograms of cannabis in 2022 and sold 3,966 kilograms across Canada in that same period.

“The 2022 fiscal year was a record year for Avant as we continue to demonstrate that we are capable of producing high-quality cannabis, at scale,” says Singhavon.

The Jim Bailey Industrial Area falls into Kelowna’s catchment, meaning all businesses in the area pay fees to the City of Kelowna even though they use Lake Country services.

— Okanagan Journal