Valuating a cannabis business requires coming up with creative comparisons to established industries, such as tulips and wine. That’s the space Justin Costello operates in. The CEO of Seattle-based GRN Funds, he brings years of experience making deals in the investment banking sector and said he has completed 80-plus cannabis deals. He currently is brokering a $60 million-$70 million sale in which...
Cannabis edibles cracked the list of top 10 food trends predicted for this year by a panel of experts writing for the Specialty Food Association. Marijuana edibles sits at eight on the list, amid other predicted trends such as: Plant-based food, including algae as a meat substitute Filipino cuisine Goth food, such as activated charcoal (heating coconut shells until they are carbonized)...
What can you do to ensure you attract a serious buyer – as opposed to a flood of suitors who are unlikely to pan out? Target your sellers. That’s one thing a lot of these people aren’t doing. They’re trying to send out press releases and they’re not doing their due diligence themselves as a seller. They’re not targeting private equity companies and family offices that are interested in this....
Cannabis business owners increasingly must confront a workplace reality that mainstream companies have faced for generations: organized labor. Front and center is the United Food and Commercial Workers union, which is aggressively seeking to convince cannabis workers to join its ranks. The UFCW said it aims to organize cannabis workers in every state where marijuana is legal, and that it already...
Selling a cannabis business isn’t as simple as sending out a news release announcing your intentions. The marijuana industry operates differently than other sectors because it has lots of legal and regulatory baggage. So executives who are thinking about cashing in on a business license must go the extra mile to develop a sales plan. Seattle-based broker Justin Costello, CEO of GRN Funds, is shopping...
Although it may appear that no aspect of the cannabiz will be left behind in the wake of state and then federal legalization, the landscape of the cannabis industry in Nevada and America at large is nuanced and can verge on the treacherous. As the industry is still federally illegal, there is very little historical and market data at the disposal of entrepreneurs and business owners looking for insight...
California’s fast-rising cannabis industry, which has been forced by federal law to conduct almost all its business in cash, got a boost Thursday when legislation was introduced to allow banks to open accounts for people involved in the field. State Sen. Robert Hertzberg, D-Van Nuys, introduced a bill that would allow California-chartered banks, credit unions and other financial institutions to open...
Cannabis 2018 serves the cannabis cultivation market. Produced by Cannabis Business Times, the event reflects the same high standards of quality the magazine has brought to the marketplace. Cannabis 2018 has been developed by cultivators, for cultivators. It is THE meeting place for industry innovators, the brightest minds in professional cannabis cultivation, and technology and solutions specialists that...
Sacramento - The California Growers Association, a California Non-Profit Mutual Benefit Corporation and the largest cannabis trade association in the state, filed a lawsuit challenging the California Department of Food and Agriculture's decision to allow unlimited stacking of cultivation licenses. Proposition 64 was clear that it “ensures the nonmedical marijuana industry in California will be built...