Green Thumb Industries

Marijuana MSO execs pinpoint state markets they’re least bullish on – and those they’re eyeing for the future

Published June 15, 2020 | By John Schroyer

This is the second installment of a two-part series in which top executives from multistate operators discuss the state-legal marijuana markets they like the most and the least. The first installment can be viewed here. Executives’ comments have been edited for length and clarity. (Click on the orange arrows to advance the slideshow.)

Why some marijuana MSOs are prospering during tough times

Published June 1, 2020 | By Jeff Smith

A number of multistate marijuana operators are struggling, unloading assets, cutting jobs and overhead costs as well as scrapping expansion plans amid a looming recession and a shortage of investor funding. But other MSOs are doing well financially: Cresco Labs, Curaleaf, Green Thumb Industries and Trulieve, among others. What makes a successful MSO these days […]

Coronavirus sparks marijuana retail workers to try unionizing in Illinois, Massachusetts

Published May 4, 2020 | By Jeff Smith

The COVID-19 crisis has accelerated unionization efforts at a handful of cannabis stores and dispensaries in Illinois and Massachusetts that, if successful, could result in thousands of dollars in added staffing costs for the multistate operators that own the establishments. Safety concerns are among the issues spurring the unionization efforts, as well as pay, benefits, […]

Marijuana giant Green Thumb’s president steps down

Published April 7, 2020

Armen Yemenidjian resigned as president of multistate cannabis operator Green Thumb Industries.

Green Thumb inks $50 million cannabis sale-leaseback deal in Illinois

Published March 9, 2020

Multistate marijuana operator Green Thumb Industries on Monday announced it has sold an Illinois cultivation and processing facility to San Diego-based Innovative Industrial Properties in a sale-leaseback deal valued up to $50 million. IIP paid $9 million for the property in Oglesby, Illinois, and plans to make up to $41 million in upgrades to the property. […]

Prices surge for wholesale cannabis flower in Illinois as demand outstrips supply

Published March 9, 2020 | By Bart Schaneman

Wholesale marijuana flower prices in Illinois are soaring as strong demand in the state’s nascent recreational cannabis program puts a strain on supply and cultivators scramble to build out facilities.

Green Thumb inks $7.2 million marijuana sale-leaseback in Ohio

Published February 3, 2020

Multistate cannabis operator Green Thumb Industries on Monday said it is selling and leasing back its Toledo, Ohio, processing facility in a deal valued at up to $7.2 million. The buyer is Innovative Industrial Properties, a San Diego-based real estate investment trust that specializes in sale-leaseback deals involving cannabis companies. IIP paid $2.9 million for […]

Cannabis firm Green Thumb refuses to recognize Illinois union effort

Published October 31, 2019

Chicago-based Green Thumb Industries, a vertically integrated multistate cannabis company, is refusing to recognize a newly formed Teamsters unit at its cultivation facilities in Rock Island, Illinois, saying the union failed to hold a vote among GTI’s employees on the decision. “GTI respects the rights of our employees,” the company told Marijuana Business Daily in […]

Illinois licenses first five adult-use marijuana retailers

Published August 30, 2019

Illinois awarded its first licenses to businesses that can sell recreational cannabis when it becomes legal in the state next year. State regulators announced the five medical marijuana dispensaries where residents will be able to buy small amounts of recreational marijuana products starting Jan. 1. The first group of licensees are all owned by Chicago-based […]

Green Thumb reports increased cannabis revenue on net quarter loss

Published August 28, 2019

Green Thumb Industries (GTI), a vertically integrated, multistate marijuana company based in Chicago, on Wednesday reported revenue of $44.7 million for the second quarter, up 228% from the same period a year ago. Net loss for the quarter, ending June 30, was $22.2 million, compared with a net loss of $9.7 million in the first quarter […]

Green Thumb completes $60 million marijuana firm acquisition

Published August 26, 2019

Chicago-based Green Thumb Industries (GTI) announced Monday it completed its $59.6 million cash and stock acquisition of Fiorello Pharmaceuticals, one of 10 companies approved to operate a medical cannabis company in New York. Green Thumb purchased New York City-based Fiorello in a transaction involving $46 million in cash and 1.7 million shares. Fiorello’s assets include: […]

Green Thumb reports $27.9 million in quarterly marijuana revenue

Published May 30, 2019

Green Thumb Industries, a Chicago-based multistate cannabis company, reported revenue of $27.9 million for its first quarter, up from $10.9 million in the same period last year.