M&A, capital raises, share prices, major expansions and financial analysis
Abner Kurtin, co-founder of Ascend Wellness Holdings, will move from his role as chief executive officer to executive chair of the board, the New York-headquartered cannabis multistate operator announced Wednesday.
After 2021’s record-breaking year for mergers and acquisitions, many marijuana industry insiders predicted that 2022 would be an even more active year.
But so far, that’s not been the case.
Canadian cannabis company Canopy Growth Corp. has thrown in the towel on its bricks-and-mortar cannabis retail operations in Canada, selling off 28 corporate-owned stores under its Tweed and Tokyo Smoke retail brands, closing five more and ending franchising and licensing agreements.
British American Tobacco (BAT) has taken a noncontrolling minority stake in German cannabis company Sanity Group for an undisclosed sum, the multinational tobacco giant announced Monday.
Aurora Cannabis reported another significant quarterly and annual loss, but the Alberta-based marijuana producer said it’s on track to report a profit next year on the back of strong growth in the European medical market.
Virtually all industries follow a predictable evolutionary path, from introduction to growth to maturity to decline.
As the cannabis industry evolves from growth to maturity, it’s no surprise the market is experiencing one of the most common developments – consolidation.
A criminal charge against Ascend Wellness founder and CEO Abner Kurtin could adversely affect the company and the cannabis industry as a whole.
