Florida Tracker
Florida sales were up significantly this week, with THC sales up 12% and CBD sales up 10% sequentially. AltMed (Verano) and Curaleaf continue to see increases in market share. Trulieve changed the trend from losing market share to slightly gaining. Ayr had a large increase in sales last week but then saw sales go back to their usual levels, most likely due to a one-off event last week. Trulieve added one dispensary this week, bringing their total to 83 in the state.
Columbia Care Green Leaf
Columbia Care completed the acquisition of Green Leaf Medical last Friday. This acquisition added 400,000 Sq. Ft. of cultivation and production and four operational dispensaries located in Maryland, Ohio, and Virginia. This provides crucial exposure to markets Columbia Care did not have exposure to in the past. The deal was valued at $240 Million, which was $45 Million in cash and $195 Million in Columbia Care stock. “I am pleased to announce the completion of Columbia Care’s acquisition of Green Leaf today, well ahead of our originally anticipated close, which secures our position as a national leader and the most scaled operator in the Mid-Atlantic,” said Nicholas Vita, CEO of Columbia Care. “Green Leaf’s proprietary gLeaf brand, cultivation and production scale, and outstanding reputation and culture are exceptional complements to the Columbia Care operational footprint in these key markets. Together, we will accelerate and expand our strategy of offering the best products and service to these rapidly expanding medical markets and well-positioned in states preparing for adult use, such as Virginia. We are thrilled to welcome the Green Leaf team, led by Philip Goldberg and Kevin Goldberg, to the Columbia Care family and will strive to ensure the continued growth and customer focus that Green Leaf is known for through a thoughtful and deliberate integration.”
Illegal Canada Operation Seized
In St. Catharines, the city bordering Niagara Falls, ON, Canadian authorities seized $14 Million worth of illegally grown marijuana. There were over 14,000 plants and 2,212 pounds of processed cannabis. Police charged 10 individuals with harvesting cannabis without authorization and are scheduled to appear in court at a later date. This large-scale sting operation shows the Canadian government's objective of taking unlicensed cannabis off the streets and dismantle organized crime groups. As Canada's illicit market shrinks, more citizens will be flocking to legal dispensaries in order to acquire their cannabis.
