<< Back to All NewslettersGreen Thumb Industries CEO Ben Kovler on Nevada expansion, building American cannabis and the War on Drugs
Cannabis Business Times
OUR TAKEAWAY
Ben Kovler has led Green Thumb Industries with a simple focus, “we start with the consumer. The business is built for the American consumer. That’s where we stick, and that’s where we see a ton of momentum,” he said. This focus has paid off as evidenced by first quarter revenues that exceeded $102 million (making Green Thumb the first US-based cannabis company to reach nine figures of revenue in a single quarter).
The Blues Brothers are back with Grassroots cannabis partnership
Cheddar
OUR TAKEAWAY
Belushi's Farm is teaming up with Grassroots Cannabis to launch a Blues Brothers line of cannabis products. Jim Belushi, actor and founder of Belushi’s Farm, and Dan Aykroyd, actor and original Blues Brother, recently discussed the new venture and their partnership with Grassroots.
Privately held cannabis operator Holistic Industries shifts into rapid growth mode
New Cannabis Ventures
OUR TAKEAWAY
Coming from a liquor-distribution background, Josh Genderson has transitioned well into the cannabis world as evidenced by his execution as CEO of Holistic Industries. Holistic exited 2019 at roughly $100 million run-rate, has seen 28 percent growth quarter-over-quarter for the past five quarters, and expects higher growth in coming quarters.
The Flowr Corporation closes third tranche of C$3M agreement with Terrace Global to fund its medical cannabis site in Portugal
Proactive Investors
OUR TAKEAWAY
The Flowr Corporation has closed a third tranche under its agreement with Terrace Global to fund its outdoor medical cannabis cultivation site in Portugal. “Thus far the crops in Aljustrel look very promising and we continue to be on track to harvest the fields in Q4 2020. It’s exciting to be leading what we believe to be one of the largest outdoor THC cultivation projects in Europe to date,” Flowr CEO Vinay Tolia said in a statement.
OUR TAKEAWAY
"Canna"nomics: September 4, 2020
Cannabis markets are hyperlocal. Thus far, the federal government has taken a relatively hands-off approach to legal cannabis, leaving the role of regulator to states and municipalities. The resulting patchwork of local-level policies is complex and sometimes challenging to navigate for operators.A handful of cannabis companies, like Green Thumb Industries in Illinois and Trulieve in Florida, are quickly becoming industry blue chips not via a focus on scale and footprint but with a mastery of local regulation and leadership in their respective home states. At this early stage in the sector's development, the industry's current "Laws" of "Canna"nomics favor operators that can master the complexity of the local landscape.
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