MedMen, Surterra put up $1 million for adult-use marijuana push in Florida

MedMen and Surterra each contributed $545,000 to a campaign to legalize recreational cannabis in Florida.

The two cannabis companies are backing Make It Legal Florida, which is seeking to collect the 766,000 signatures needed to put a constitutional amendment on the 2020 ballot.

Their contributions, totaling $1.09 million, were first reported by Florida Politics.

Surterra, based in Atlanta, has the second-largest market share in THC/CBD sales per milligram among Florida’s medical marijuana businesses.

But Surterra’s 13.7% share lags far behind Trulieve, which has nearly a 50% market share, despite both companies being tied with the most dispensaries at 31 each.

Surterra hasn’t done much in the smokable flower market yet, holding less than a 3% share of sales.

MedMen would appear to have a lot at stake in the drive to legalize recreational marijuana in Florida.

The California-based company, which paid a reported $53 million to acquire a vertically integrated medical marijuana license from Treadwell Simpson Partnership, only recently opened its first dispensary in Florida.

To read more about the company’s campaign contributions, click here.

Jeff Smith can be reached at jeffs@mjbizdaily.com