California-based Indus Holdings Inc. is acquiring one of the most reputable names in the cannabis industry. The vertically integrated firm, headquartered in Salinas, Calif., announced Thursday plans to buy Los Angeles-based Lowell Herb Co. in a cash-and-stock transaction valued at $39 million.
Denver-based GrowGeneration (NASDAQ: GRWG) unveiled its fourth acquisition of 2021 on Tuesday, announcing plans to buy San Diego Hydroponics & Organics which operates four locations and boasts revenues of nearly $10 million. THCnet recently caught up with CEO Darren Lampert to discuss the GrowGen business.
Less than six months after launching on the NYSE Arca exchange, AdvisorShares’ Pure US Cannabis ETF has surpassed $1 billion in assets under management (AUM).
Acreage Holdings is adding another executive from Bespoke Capital. The New York-based cannabis firm announced Tuesday that Steve Goertz, a Canadian business executive who most recently served as partner and chief financial officer of the Bespoke SPAC, would supplant current Acreage CFO Glen Leibowitz.
Florida-headquartered cannabis firm Parallel will go public on Canada’s NEO Exchange in a SPAC deal valuing the firm at more than $1.8 billion.The multistate cannabis operator — led by William “Beau” Wrigley, the billionaire heir to the iconic namesake chewing gum enterprise — will merge with Ceres Acquisition Corp., a blank check company backed by music industry entrepreneur Scooter Braun.
Cannabis sales in Michigan approached $1 billion in 2020, state records show. According to data from the Michigan Marijuana Regulatory Agency (MRA), combined sales of medical marijuana and adult-use cannabis reached $984.7 million.
Former NBA All-Star Chris Webber has teamed up cannabis investor Jason Wild, who runs the New York based investment firm JW Asset Management, to launch a $100 million private equity fund for minority cannabis business owners. The fund will “level the playing field” for BIPOC entrepreneurs who want to break into the booming cannabis industry but lack the access to funding and resources.
The latest cannabis industry jobs report from Leafly has arrived. According to the online cannabis information resource and e-commerce platform, which once again partnered with consulting firm Whitney Economics to produce its 2021 report, the U.S. marijuana industry added 77,300 jobs in 2020, up 32% versus 2019.
Canada’s HEXO Corp announced Tuesday plans to acquire competing cannabis firm Zenabis Global Inc. in an all-stock transaction valued at $235 million.
Chicago-based multistate operator Green Thumb Industries (GTI) has raised $100 million via the sale of 3.1 million registered subordinate voting shares to a single institutional investor at $32.03 per share.
Eaze, and online cannabis marketplace, recently published its 2020 “State of Cannabis” report highlighting trends and insights from the country’s largest marijuana market: California. According to the company, 400,000 Californians purchased a cannabis product via the Eaze platform in 2020, many of them for the first time as coronavirus-induced shutdown orders forced customers online.
After selling more than $1 billion worth of cannabis products last year, dispensaries in Illinois got off to a blazing start in 2021 by taking in more than $121 million in January. According to new data from the Illinois Department of Financial and Professional Regulation, adult-use cannabis dispensaries sold a record $88.8 million worth of cannabis during the first 31 days of the new year.
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