MedMen

Stock slump, layoffs and turning a cannabis company around: Q&A with MedMen CEO Adam Bierman

Published December 30, 2019 | By John Schroyer

The new year always offers a chance for a fresh start, which is exactly what MedMen CEO Adam Bierman believes he needs.

Multistate cannabis operator MedMen reveals another round of layoffs

Published December 11, 2019

Vertically integrated marijuana company MedMen, one of the most high-profile cannabis retailers in the U.S., announced more layoffs on Wednesday. “This week, the company provided layoff notices to an additional 20% of its corporate-level employees,” MedMen said in a news release. “In total, over the past 30 days, the company has strategically reduced its corporate […]

Major cannabis firm MedMen slashes more than 190 jobs, unloads assets to bolster bottom line

Published November 15, 2019 | By Bart Schaneman

MedMen, a Los Angeles-based multistate marijuana operator, announced it is laying off more than 190 employees to shore up its bottom line, joining a growing list of cannabis companies shedding workers amid falling MJ stock prices and a dearth of outside funding. The cash-strapped, vertically integrated company also disclosed plans to scale back its store […]

More medical cannabis companies bolster operations in lucrative Florida market following smokable flower ban repeal

Published November 11, 2019 | By Jeff Smith

A new Florida law repealing a ban on smokable medical marijuana products has given the state’s MMJ market a shot in the arm, prompting large multistate companies to aggressively expand their production, operations and retail footprints. That has injected fresh competition into one of the nation’s fastest-growing medical cannabis markets and loosened the grip of the state’s […]

Antitrust cloud lifting on cannabis M&A deals, but will some be renegotiated – or even abandoned?

Published October 24, 2019 | By Nick Thomas

The antitrust cloud hanging over several large mergers and acquisitions in the U.S. marijuana industry appears to be lifting, but its effects continue to linger and could remain a factor if the deals ultimately are renegotiated or even scrapped in a difficult funding environment. In recent weeks, a number of marijuana companies have announced that […]

MedMen and PharmaCann terminate $682 million cannabis merger; MedMen CFO ousted

Published October 8, 2019 | By Nick Thomas

MedMen, a Los Angeles-based multistate marijuana operator, announced that its blockbuster acquisition of PharmaCann has been scuttled and that the company will focus on beefing up its retail operations in California and other states.

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

Published September 12, 2019 | By Jeff Smith

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, […]

Former MedMen executive joins cannabis competitor

Published August 14, 2019

Ben Cook, a former MedMen chief operating officer, joined competitor Calyx Peak, a Nevada-based marijuana company with a presence in four states. In his new role as COO of Calyx Peak, Cook will oversee the entire company’s operations in California, Massachusetts, Nevada and Ohio, according to a news release. Ed Schmults, CEO of Las Vegas-headquartered Calyx […]

Antitrust issues weigh on US cannabis stocks, but is it enough to unravel deals?

Published July 31, 2019

The U.S. cannabis industry has seen billions of dollars of acquisitions in recent months, attracting scrutiny from federal trustbusters examining whether planned purchases could quash competition in the emerging marijuana industry. The U.S. Department of Justice’s review of the deals – including those involving Chicago-based Cresco Labs (CSE: CL; OTC: CRLBF) and Arizona-based Harvest Health & Recreation (CSE: HARV; OTC: […]

Former MedMen executives join high-profile marijuana companies

Published July 19, 2019 | By John Schroyer

Two more MedMen executives have left the California-based company for other cannabis industry jobs: Toronto-based Flower One Holdings announced that Kellen O’Keefe, ex-MedMen senior vice president of business development, joined its team as chief strategy officer. Meanwhile, Acreage Holdings, a New York-based multistate operator, announced it hired MedMen’s former senior vice president of technology, Alfred Miranda, as its […]

MedMen opens its first Florida medical cannabis dispensary

Published June 14, 2019

Multistate operator MedMen on Friday announced the opening of its first Florida medical marijuana dispensary, in West Palm Beach – the first of 12 such planned storefronts in the state. The California-based company said in a news release it’s also planning upcoming Florida dispensaries in Orlando and Key West. MedMen could eventually open as many […]

MedMen investors file to move lawsuit against cannabis firm into arbitration

Published June 6, 2019

After filing suit against MedMen in January alleging serious mismanagement and a breach of fiduciary duty – and asking a court for nearly $220 million in damages – two early investors in the California marijuana company announced this week they’ve withdrawn their lawsuit and are seeking arbitration. Daniel Petrocelli, attorney for plaintiffs Brent Cox and […]