2019 Becoming a Big Year for Mergers, Acquisitions and
Expansion in #Cannabis; (NYSE: $CGC) (OTC: $SING) (OTC: $HRVSF) (CSE: $GTII.C)
Point Roberts, WA and Delta, BC - March 27, 2019
(Investorideas.com Newswire) Investorideas.com, a leading investor news
resource covering hemp and cannabis stocks continues with our two part series
on how the growing cannabis market is boosting ancillary markets, with part two
focusing specifically on acquisitions in the cannabis sector.
According to a recent Forbes article, "most of
the businesses growing, processing and selling cannabis across the United
States are small independently-held entities. That may change in 2019 which
looks like a big year for industry mergers, acquisitions and expansion. Large
companies, like those in the food, tobacco and pharmaceutical industries have
mostly stayed on the sidelines, held back by regulatory concerns, but are now
expected to enter the market. The cannabis industry still has a mom and pop
feel but that could change rapidly."
Canopy Growth Corp. (NYSE: CGC) (TSX: WEED) is a
strong example of one such larger company making acquisitions, having recently acquired AgriNextUSA, a hemp enterprise led by CEO, Geoff Whaling, that has
been at the forefront of hemp advocacy and building a vibrant hemp sector in
the US. The
acquisition is expected to accelerate Canopy Growth's entry into key American
jurisdictions as regulations surrounding the full use of hemp as a crop
implementation.
SinglePoint (OTC: SING), a company with a focus on acquiring companies that will benefit from the
injection of growth capital and technology integration in mobile payments, ancillary
cannabis services and blockchain solutions, has been very busy making
recent acquisitions in Cannabis and most recently solar,
all which could benefit their cannabis division was featured in Part
One of this series.
The company offers mobile Web checkout gateway services
which allow mobile users to purchase goods and services directly from
Web-enabled mobile phones through credit or debit cards. It also sells hemp
products through SingleSeed.com, supplies hydroponic supplies and nutrients to
commercial and individual farmers through retail and online stores.
SinglePoint, Inc. was founded in 2007 and is based in Phoenix, Arizona.
Harvest
Health and Recreation (OTC: HRVSF) (CSE: HARV) recently announced that it would buy competitor Verano Holdings for $850
million in an all-stock deal, marking the largest US cannabis deal to date. The
combined company will be one of the country's largest multi-state operators,
presiding over as many as 200 facilities in 16 states.
Steve White, the co-founder and CEO of Harvest, commented
on the state of the market in a recent CNBC article. "Presently, we're in a phase that people are
referring to it as a land grab," White told CNBC's ’Fast
Money.’ "We plan on ... developing the largest retail
footprint, the largest retail platform, in the United States, and with this
acquisition, I think we've done that."
Green
Thumb Industries Inc. (CSE: GTII) (OTC: GTBIF) also recently announced the closing of the acquisition of For Success Holding
Company, the Los Angeles-based creator of the lifestyle suite of Beboe branded
cannabis products.
Beboe is the leader in luxury cannabis whose mission is to
‘destigmatize’ legal cannabis through heightened experience and education.
Beboe is best known the thoughtful design aesthetic of its iconic rose gold
vaporizing pens and edible pastilles, and each product is curated with a unique
blend of socially dosed THC and CBD. Beboe is currently available in more than
125 retail locations in California and Colorado and via home delivery across
California. In 2018, Beboe launched a direct-to-consumer hemp-derived CBD line
of products and introduced several collaborations, including a CBD-infused
drink with wellness brand Dirty Lemon.
In early 2019, Barneys New York announced an exclusive
partnership with Beboe for a first-of-its-kind luxury cannabis lifestyle and
wellness concept shop, “The High End.” The shop will debut at Barneys’ Beverly
Hills flagship location in March, with plans to expand to additional locations
in the near future. The collaboration includes exclusive, special edition
packaging and a silver Beboe vaporizer pen in celebration of the project. With
the acquisition by GTI, Beboe products will become available beyond California
and Colorado with distribution in select markets.
This “land grab” momentum is expected to continue through
2019 as the cannabis sector expands and consolidates within its own sector and
with its ancillary markets. This may mean that the companies making early
acquisitions will have a much better chance of success in the market.
Part one The SunnySide of Cannabis; Cannabis Growth Boosts
Solar Market; (TSX: $VFF.V) (OTC: $SING) (CSE: $HUGE.C) (CSE: $BGRD.C)
For investors
following cannabis stocks, Investor Ideas has created a stock directory of publicly traded CSE, TSX, TSXV, OTC, NASDAQ, NYSE, ASX
Marijuana/Hemp Stocks
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