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. […]
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Green Thumb signs $80M deal to acquire Connecticut medical marijuana firm
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% […]
Read MoreBolstered cannabis sales, new stores boost Green Thumb’s Q3 revenue 344%
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, […]
Read MoreGreen Thumb Industries buys Nevada cannabis business in $290 million deal
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 […]
Read MoreWeekly Deal Watch: Cannabis funding frenzy highlights how much capital is ‘still on the sidelines’
This week was the single largest capital raise week for the industry, bolstered by the official close of Constellation’s investment in Canopy Growth.
Read MoreWeekly Deal Watch: Cannabis firms hustle to expand, raise capital to support growth
Strong distribution networks are critical for future growth in the U.S. cannabis market – and firms are willing to invest in growing their networks.
Read MoreCresco Labs closes $100 million raise, draws institutional investors to cannabis industry
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 […]
Read MoreUS cannabis listings in Canada rise as investor interest spikes
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 […]
Read MoreEarnings highlights: Hedge fund billionaire Leon Cooperman bets on cannabis; two firms deliver solid Q2 results
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 […]
Read MoreIllinois medical marijuana cultivation companies expanding facilities
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 […]
Read MoreCEO of multistate medical marijuana operator Green Thumb steps down
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 […]
Read MoreBig hits: Cannabis companies on pace to raise record $8 billion in 2018
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 […]
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