In Part 1, Erik Ott of investment bank KO Acquisitions explained how to get your cannabis company ready for an M&A transaction by concentrating on corporate hygiene. In Part 2, Ott examines the process and key elements involved in the non-binding Letter of Intent (LOI). You’ve given a few tours, talked with senior management, and […]
Banking, Finance & Real Estate
Cresco Labs Announces Record Revenue of $153.3 Million, Growth of $59 Million or 63% QoQ, and Adjusted EBITDA1 of $46.4 Million
PRESS RELEASE Company affirms position as the largest wholesaler of branded products in the industry with $90.5 million in wholesale revenue Record revenue of $153.3 million, 63% growth QoQ, an absolute increase of $59 million Record adjusted EBITDA1 of $46.4 million, 182% growth QoQ Record cashflow from operations of $17.8 million Retail revenue growth of […]
Cannabis M&A – A Template for Success, Part 1
Opportunities abound for today’s cannabis producers, but any business seeking to sell a cannabis operation is likely to face a steep learning curve and numerous unforeseen obstacles. In a three-part series, Erik Ott of investment bank KO Acquisitions will lay the groundwork for those contemplating a sale to US or Canadian buyers. In Part 1, […]
Verano Holdings Announces Agreement to Acquire and Combine Operations with AltMed in Florida and Arizona, Creating One of the Largest U.S. Private Cannabis Companies
PRESS RELEASE -Combines two profitable, fully integrated platforms operating in limited-license, high-growth markets -Deal expected to be immediately accretive upon closing CHICAGO and SARASOTA, Fla. – November 11, 2020 – Verano Holdings, LLC (“Verano”), a leading multi-state cannabis owner, operator, and manager today announced the signing of a definitive merger agreement to acquire and combine […]
Harvest Health & Recreation Inc. Reports Third Quarter 2020 Financial Results
PRESS RELEASE Third quarter revenue was $61.6 million, up 86% from the third quarter 2019 and 11% sequentially Third quarter adjusted EBITDA was $10.5 million, compared to $4.1 million in the second quarter of 2020 2020 revenue target increased to greater than $225 million, up from $215- 220 million PHOENIX, November 10, 2020 — […]
Cannabis Real Estate: Cultivating the Right Partner
Over the lifespan of retail-oriented industry in America, real estate has been a make or break factor in the success of many companies. The now legendary former president of McDonald’s Harry Sonneborn once famously told McDonald’s founder Ray Kroc that he wasn’t “in the burger business, but the real estate business.” The quality and strategy […]
Scaling Your MSO to Succeed: When it comes to scaling your business, capital is only one piece of the puzzle
Back in January, none of us could’ve predicted how 2020 would play out for the industry. Now that we’re in the fourth quarter, it’s worth looking at where things stand and how MSOs can effectively scale in the current environment. Continued industry growth is a given. But how that growth happens—through either federal legalization or […]
Navigating the SPAC Trend in the Cannabis and Hemp/CBD Market
Special Purpose Acquisition Companies (SPACS) have had increased activity in the cannabis and hemp/CBD industries over the past year. Presently, these “blank check companies” have raised more than $3 billion. Investors and operators interested in partaking in these vehicles and participating in the public market should be aware of which SPACs will be looking to […]
Cannabis Facility Construction Completes Construction of New Flagship Dispensary for Greenhouse Cannabis
PRESS RELEASE NORTHBROOK, IL (OCTOBER 5, 2020) – Cannabis Facility Construction (CFC), a national, full-service, cannabis design-build construction firm based in Northbrook, IL, has just completed construction of a new recreational and medical cannabis dispensary for Greenhouse. The new flagship dispensary, located at 755 Skokie Boulevard in Northbrook, IL, opened to the public on September […]
How a Dispensary’s Financial Foundation Shined During COVID-19
COVID-19 pandemic wreaked havoc on everyone’s 2020 plans—and cannabis companies were no exception. As in-person interactions shrunk, for instance, some companies had to rapidly rethink how they operate or risk alienating customers or missing out on a new opportunity. Fortunately, for those companies that already had a solid foundation in place, they could quickly adapt […]
