GrowGeneration (Nasdaq: GRWG) continued its acquisition streak Monday, announcing plans to purchase growing medium company Char Coir. Specific financial terms of the deal were not announced, but the Denver-based hydroponics retailer said Char Coir’s line of 100% biodegradable coconut coir will add $15 million to the company’s top line.
Zip Run, a Boston-based startup aiming to become the first adult-use cannabis delivery service in Massachusetts, is almost ready to launch. Founded in January 2020 by a group of young entrepreneurs, the company is taking a multi-pronged approach to cannabis delivery that it believes will also enable others to cash in on the so-called “green rush.”
Curaleaf founder Boris Jordan believes we’re in the midst of a “global paradigm shift” and that his company is at a key “inflection point.” After establishing itself as one of the most dominant players in an emerging U.S. cannabis market — growing revenue 184% to a record-breaking $627 million in 2020 — Curaleaf now has its sights set on Europe.
Colorado-based cannabis research firm has inked a licensing agreement with Canada’s Fire & Flower Holdings, which owns and operates dozens of cannabis retail stores. The partnership will allow clients of both companies to access data from their respective territories.
On the same day it reported record-breaking 2020 financial results, Massachusetts-based Curaleaf Holdings (CSE: CURA, OTCQX: CURLF) said it would become the first U.S. multistate operator (MSO) to “meaningfully” enter Europe. Curaleaf today announced plans to acquire EMMAC Life Sciences, the largest independent cannabis company in Europe
Canabix is a line of CBD-infused “wellness water” made by Pennsylvania-based Hemp Synergistics. Available in three flavors – Lemon Cucumber, Dragon Fruit, and Peach Tea – the Canabix formulation includes a blend of water (or brewed tea in the peach flavor), erythritol, sugar, probiotics, nano-emulsified hemp oil and natural flavors.
GKUA, the cannabis brand co-founded by rapper Lil Wayne, has partnered with The Last Prisoner Project, a nonprofit organization dedicated to cannabis-related criminal justice reform. GKUA said it would donate $1 to the Last Prisoner Project for every Instagram user who shares a photo of themselves enjoying cannabis on the social media platform.
Legal U.S. cannabis sales grew 46% in 2020, according to a new report. Colorado-based cannabis research firm BDSA announced Tuesday that U.S. marijuana sales eclipsed $17.5 billion, up from $12.1 billion in 2019. Worldwide, cannabis sales grew 48%, to nearly $21.3 billion.
Chicago-based Green Thumb Industries (GTI), which has operations in 12 U.S. states, has signed a manufacturing and distribution agreement with California’s most prominent THC-infused beverage company, Cann. GTI has also made an undisclosed equity investment in the fast-growing company.
Canada’s Canopy Growth Corporation has launched its CBD-infused beverage line, called Quatreau, in the U.S. Available in four flavors — Cucumber + Mint, Passion Fruit + Guava, Ginger + Lime, and Blueberry + Acai — the new drinks have 25 calories, contain 20 milligrams of CBD isolate derived from hemp, and are sugar free.
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.