April 1 2022,
THE BIG IDEA
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In today’s newsletter:
- Etain snapped up for $247M, mostly cash
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NY LICENSE HOLDER ETAIN ACQUIRED FOR $247M
- RIV named Scotts executive Mark Sims Etain’s new CEO.
- Etain is a vertically integrated operator with four New York stores.
- Gardening supply company Scotts has seen its stock soar in recent years after becoming a major equipment supplier for growers under its Hawthorne Gardening brand.
- Of the $247M price tag, $212M is in cash, an unusually high percentage in the cannabiz.
- Entrepreneur Christine de la Rosa suggests Etain is making off better than MSO Columbia Care which agreed to be acquired, days ago, for $2B, $0 in cash.
- The House is set to pass the progressive legalization bill The MORE Act for a second time. Legalization supporting Rep. Dave Joyce (R- Ohio) circulated a memo on why he opposes it. Republican Senator Steve Daines said it wouldn’t pass the upper chamber.
- MSO Trulieve saw a big bump in Q4 revenue. Quarterly revenue at many smaller companies, was flat or declined.
- A dispensary employee is suing Curaleaf for “stealing tips.” The MSO was also named to TIME‘s list of most influential companies.
- Bright Green, a Florida company the DEA has licensed to grow for research purposes, plans to go public on the NASDAQ.
- Edibles maker Wana Brands is debuting a first in class augmented reality packaging.
- Cartoonist/ activist Brian “Box” Brown drew up brand maps for MSOs Terrascend and Ayr Wellness. That’s roughly what sardonic critic Chandler Easley means when he refers to, “A pathetic attempt to mislead consumers that they have options through your retail that are just a construct.”
- MG Retailer introduces 23 minority led brands.
- Colleges appear to attract more applications when their state legalizes.
- New Jersey’s Senate President is calling for hearings into market delays.
- A spate of robberies in Washington state has officials and the industry blaming Congress for its failure to pass bank reform.
- MJ Brand Insights checks out Michigan’s first consumption lounge, Hot Box Social.
Health and Science:
- Positive drug tests from workers hit a two-decade high.
- The Washington Post explores the idea of paying people to stay off drugs.
Fun and Interesting:
- Jackie Bryant has a dispatch from Spannabis, in Barcelona, where she learned about Europe’s resurgent hash scene.