Green Thumb Industries

Chart: Multistate cannabis operators rapidly expanding into new markets

Published January 14, 2019 | By Maggie Cowee

The fragmented, state-by-state nature of the marijuana industry historically has been dominated by small, local players, but larger, publicly traded companies with multistate operations are becoming an increasingly prevalent force. Rapid consolidation and expansion among cannabis companies dominated 2018 with more than 300 mergers and acquisitions and a rash of reverse takeovers that allowed U.S. […]

Green Thumb signs $80M deal to acquire Connecticut medical marijuana firm

Published January 7, 2019

Green Thumb Industries (GTI), a vertically integrated, multistate cannabis company, signed a definitive agreement to acquire Connecticut’s Advanced Grow Labs in a deal valued at roughly $80 million. Advanced Grow Labs, one of only four licensed medical marijuana cultivation and processing companies in the state, owns a 41,000-square-foot manufacturing facility in West Haven and a 46% […]

Bolstered cannabis sales, new stores boost Green Thumb’s Q3 revenue 344%

Published November 28, 2018 | By Lisa Bernard-Kuhn

New store openings and a big boost in organic sales sent Chicago-based Green Thumb Industries’ third-quarter revenues soaring 344% – to $17.2 million – compared to the same period a year ago. The firm, which trades on the Canadian Securities Exchange under the ticker symbol GTII, reported revenue gains of 26% from the second quarter, […]

Green Thumb Industries buys Nevada cannabis business in $290 million deal

Published November 14, 2018

Green Thumb Industries (GTI), a multistate marijuana company, has agreed to purchase a Nevada-based, vertically integrated cannabis company in a stock and cash deal valued at about $290 million. The deal expands Chicago-based GTI’s footprint in Nevada, home to one of the fastest-growing, adult-use MJ markets in the nation. The acquisition includes: Three retail stores in […]

Weekly Deal Watch: Cannabis funding frenzy highlights how much capital is ‘still on the sidelines’

Published November 7, 2018 | By Lisa Bernard-Kuhn

This week was the single largest capital raise week for the industry, bolstered by the official close of Constellation’s investment in Canopy Growth.

Weekly Deal Watch: Cannabis firms hustle to expand, raise capital to support growth

Published October 24, 2018 | By Lisa Bernard-Kuhn

Strong distribution networks are critical for future growth in the U.S. cannabis market – and firms are willing to invest in growing their networks.

Cresco Labs closes $100 million raise, draws institutional investors to cannabis industry

Published October 5, 2018 | By Lisa Bernard-Kuhn

Chicago-based marijuana firm Cresco Labs closed a $100 million funding round that attracted institutional investors, a notable milestone for cannabis finance in the United States. The raise represents the second-largest deal inked in the U.S. marijuana industry to date. New York-based Acreage Holdings’ $119 million raise in July holds the top spot for private funding […]

US cannabis listings in Canada rise as investor interest spikes

Published September 7, 2018 | By Matt Lamers

A record number of U.S.-based marijuana companies are turning to Canada to fund aggressive expansion in the United States and globally. The companies, which face investment constraints in the United States, are being lured by Canada’s cannabis-friendly capital markets and a growing appetite among international investors for American MJ assets. So far this year, 17 […]

Earnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results

Published August 30, 2018 | By Lisa Bernard-Kuhn

Share prices at cannabis firms Green Thumb Industries and Tilray are on the rise after solid second-quarter performances – and mainstream investors are taking note, with at least one hedge fund billionaire throwing his support behind the industry. The two businesses reported their first earnings as newly public companies after the markets closed Tuesday. Here’s […]

Illinois medical marijuana cultivation companies expanding facilities

Published August 27, 2018

Cannabis growers across Illinois are expanding operations, despite years of lower-than-expected demand in the state’s medical marijuana pilot program. The facilities expect more people to gain access to MMJ through a bill awaiting a decision by Gov. Bruce Rauner, the Chicago Tribune reported. The opioid bill would allow medical cannabis to be used instead of […]

CEO of multistate medical marijuana operator Green Thumb steps down

Published August 6, 2018

Peter Kadens, one of the more notable names in the U.S. cannabis industry, has stepped down as CEO of multistate medical marijuana company Green Thumb Industries (GTI). The 40-year-old entrepreneur, who will stay with Chicago-based GTI as a board member, told MassLive.com he was stepping down for personal and family reasons. Ben Kovler, who founded […]

Big hits: Cannabis companies on pace to raise record $8 billion in 2018

Published July 31, 2018 | By Lisa Bernard-Kuhn

Marijuana companies across the globe are on pace to raise a record $8 billion by the end of 2018 as more companies go public and scale to meet growing demand, an analysis of recently released market data shows. Through the end of June, cannabis companies raised a record $4.3 billion – more than triple the […]