​The Rise of the Multi-State Cannabis Operator

Lucas J. Wentworth  |

Up until recently, the cannabis industry has existed in a fragmented state of affairs dominated by small players on a state-by-state basis. However, multi-state operators (MSOs) — large and typically publicly traded companies with multi-state operations — are becoming increasingly prevalent in the cannabis industry as the space matures and as more states ease restrictions.

These companies develop and operate facilities for cannabis cultivation, extraction, and retail in just about every state that has legalized cannabis for medical or recreational use. It seems straightforward, but what tangible differences and advantages do multi-state operators actually have compared to single-state operators within the cannabis industry? To find out, I reached out to several executives in the cannabis industry:

George Archos, CEO of Verano Holdings, a national, vertically integrated operator of licensed cannabis cultivation, manufacturing and retail facilities dedicated to improving lives by providing safe access to effective organic cannabis products that enhance health and wellness and by positively impacting the communities it serves.

— Andrew Glashow, President, COO, and Director at Cannabis Life Sciences, a public multi-state vertically-integrated company. City Trees is their wholesale brand, which is one of the fastest growing brands in Nevada.

— Steve Gormley, CEO of International Cannabrands, a company focused on acquiring successful mid-market cannabis brands with a goal of bringing together unique and emerging legal cannabis brands and core cannabis capabilities that resonate with evolving consumer lifestyles.

— Charles Finnie, Chief Strategy Officer at MariMed, Inc. MRMD is a multi-state cannabis organization that develops, owns and manages cannabis facilities and manufactures, licenses and distributes top brands and innovative products

— Martin Kaufman, Co-founder of MKSI, an Oakland-based company that has decades successfully founding, leading and supporting companies across every aspect of the cannabis industry, from agriculture to advocacy to private equity, real estate, retail and beyond.

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