Green Thumb Industries

Marijuana MSOs post strong quarterly results, but investors tepid

All 10 of the largest publicly held marijuana multistate operators posted double-digit revenue growth in the quarter ended June 30, but stock prices remained weak as investors grow impatient with the slow pace of federal marijuana legalization efforts. Four of the largest five publicly held MSOs actually made a profit in the quarter, with Florida-based […]

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Schumer’s marijuana reform bill would create industry winners and losers, experts say

Since Senate Majority Leader Chuck Schumer unveiled a draft of his federal marijuana legalization bill in July, questions have begun percolating about what cannabis businesses stand to win or lose should the groundbreaking legislation become law. Longtime industry experts agreed that big, well-capitalized companies stand to reap the most gains in a post-federal legalization world, […]

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Acquisition propels Green Thumb into RI medical marijuana market

Green Thumb Industries said it closed a deal to acquire one of only three operational medical cannabis dispensaries in Rhode Island, further advancing the Chicago-based company’s national industry footprint. According to a news release issued Monday, Green Thumb Industries (GTI) is acquiring CanWell Processing and Mobley Pain Management and Wellness Center. Both companies hold stakes […]

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Where a cannabis company trades can have a big impact on liquidity, valuation

Though access to capital for public cannabis companies improved in early 2021, liquidity remains low for the U.S. plant-touching operators in comparison to the Canadian licensed producers. U.S. operators have access only to lower-volume exchanges, such as the Canadian Securities Exchange (CSE) and the over-the-counter-market, which allow “touching the plant” in the U.S., because the […]

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Green Thumb buys Massachusetts medical marijuana operator

Marijuana multistate operator Green Thumb Industries acquired Liberty Compassion, a Massachusetts medical cannabis cultivator and retailer. Liberty Compassion has two Affinity-branded stores in Boston and West Springfield. The purchase price wasn’t disclosed. With the acquisition, Illinois-based Green Thumb now has two cultivation and processing facilities and three retail outlets in Massachusetts. Green Thumb has a […]

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Cannabis M&A surges in hot Pennsylvania market with $400 million in deals

Merger and acquisition activity is sizzling in Pennsylvania, with more than $400 million worth of deals announced since March alone, as local cannabis businesses cash out and multistate operators seek or expand footholds in the rapidly growing mid-Atlantic market. Cultivation and processing operations are fetching $100 million and more. And dispensary licenses are commanding prices […]

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Marijuana MSO Green Thumb expands into Virginia

Illinois-based multistate operator Green Thumb Industries is expanding into Virginia with a definitive agreement to acquire medical marijuana company Dharma Pharmaceuticals. The deal comes only weeks after an adult-use measure was signed into law in Virginia. Financial terms of Green Thumb’s acquisition weren’t disclosed. Dharma holds one of five MMJ licenses in Virginia. But the […]

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Cannabis MSO Green Thumb raises $217 million in debt at 7% interest rate

Multistate cannabis operator Green Thumb Industries raised $217 million worth of funding by issuing senior secured debt at an interest rate the company described as “industry-leading.” Chicago-based Green Thumb said it would use the new funding to retire $105 million of existing senior secured debt and “for general working capital purposes as well as various […]

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New York’s marijuana social equity program eyed as possible game changer

New York recently enacted an adult-use marijuana law that many industry experts believe has the most robust provisions yet for including minorities, women, war veterans and struggling farmers in the state’s newest industry. But when the recreational marijuana market launches in 12 to 18 months, will New York be on the path toward becoming the […]

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