As of January 1, 2020 cannabis is legal for recreational use in the following states: Washington, Oregon, California, Nevada, Alaska, Wyoming, Maine, Massachusetts, Vermont, and now Illinois.
Illinois legalized medical use in 2014 and since then the industry has been on a rollercoaster ride.
- Cresco Labs recently went public
- Green Thumb Industries went public on the Canadian Securities Exchange a little over a year ago
- PharmaCann sold to MedMen (for almost $700m)
- Grassroots raised $90m about a year ago, claiming that they are the largest privately held cannabis company operating in 11 states
- Verano Holdings was acquired by Harvest Health & Recreation (for $850m)
- This past week Cresco Labs co-founder Caltabiano resigns
…….and within the last few months Curaleaf is buying Grassroots Cannabis for cash and stock estimated at $875m making it the “largest medical and adult-use cannabis company.”
This should indicate a Rise in this budding industry, right? Well according to Chicago Business Magazine, volume is up, employment is up, but sales are down.
There is massive disruption in this industry. Growth and valuation are exponentially on the rise – but what about basic business operations? Think about order management to keep shelves full with product -or- product pricing to be competitive -or- distribution -or- even some of the most basic aspects of running a business like employee engagement and job satisfaction.
CPG Cloud Partners specialize in turning chaos in disrupted industries into insights. We offer a people-based, collaborative approach to learning about our client’s challenges and putting strategies in place to achieve corporate goals. Through our partner network, we offer everything from branding, to back office capabilities (like order management), to wrangling data to drive insights and decisions.
During this disruptive, fast-paced, “wild wild west” phase – look to a partner, like CPG Cloud Partners, to support your growth and enable your innovations.
Visit us at CGPCloudPartners.com or contact us at 312.218.0930 today to get started!
