Public cannabis companies making headway in maturing Michigan industry
Under one roof
With the PharmaCo deal, Red White & Bloom has grown to 185 Michigan employees and taken on 21 medical and adult-use cannabis business licenses. It’s absorbing 10 dispensaries, 30,000 square feet of indoor grow space in two facilities, a 10-acre outdoor grow operation that’s set to start up this year and 22 other properties for future grow or retail space. The company is looking to hire 50-80 people in Michigan this year.
Variety of ways to get involved
Mains of Honigman also referenced several recent acquisitions bringing more public activity to Michigan: Canadian TerrAscend Corp. acquiring one of Michigan’s biggest marijuana sellers, Gage Growth Corp. — plus the RWB deal. And Curaleaf Holdings Inc. acquired GR Companies Inc., or Grassroots, in 2020 in an $875 million deal that brought Curaleaf into Michigan for the first time.
‘Big fish or little fish’
Posted By: Crain’s Detroit Business on March 9, 2022. For more information, please click here to read the source article.
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