Major marijuana multistate operator Columbia Care has a new corporate identity after rebranding as The Cannabist Co.
The new corporate name is The Cannabist Company Holdings, the company said in a Tuesday news release.
The rebrand comes shortly after the New York-headquartered company and rival MSO Cresco Labs terminated a high-profile merger earlier this year because of “the evolving landscape in the cannabis industry.”
The Cannabist Co., which already operated 36 cannabis stores under the Cannabist name, said it “will continue the process of converting its retail portfolio to the Cannabist brand across the country in 2024.”
“The rebranding reflects the company’s continued dedication to building a cannabis company for the future, which fosters innovation, creativity, and passion across its teams, adult-use and medical customers, partners, and the industry,” The Cannabist Co. said in the release.
“As we’ve opened Cannabists across the country, it became clear to us that the ethos behind that retail brand represented our company as a whole – a passion for cannabis that we all share and fuels our work every day,” Jesse Channon, chief commercial officer of The Cannabist Co., said in a statement.
The day before the rebrand announcement, The Cannabist Co. announced a capital raise worth $25 million via a private placement.
The company’s stock will trade under new symbols to reflect its new corporate identity starting Thursday.