These Marijuana Companies Are Now The Biggest In The World
These Cannabis Companies Are Making Big Waves In The Industry
Cannabis Industry Merger And Acquisitions In 2021
Many cannabis stocks have over the last several months been hit with a loss in trading momentum. This has led to many of the top cannabis stocks trading at lower prices. Yet so far in May pot stocks have been performing a bit more volatile this month. The initial start to May was looking like the months prior with no upward push in trading. However just because trading has not been so well for marijuana stocks does not mean business has followed in the same fashion. In recent trading, some cannabis stocks have started to slowly recover. Which is a good sign for the overall sector and cannabis industry.
Much progress has taken place over the last year for the cannabis industry. Back in November of 2020 more states voted to go legal which helped further the process of enacting cannabis legislation in more states. As well it also helped to develop more cannabis markets around the United States. The U.S. cannabis industry has been the bigger focus of the sector which has led to a record amount of money being invested in cannabis. Not only that better cannabis reform has slowly become better over time. However, the industry is waiting to see legislation that pushes for ending cannabis prohibition.
Once federal cannabis reform is in place it will allow for more growth to occur that was not able to be reached due to federal restrictions. Furthermore, even with cannabis still federally illegal, more companies have been working hard to keep operations in the green. Despite many top marijuana stocks being down in the market. Some companies like the ones mentioned below have teamed up to create super companies to take on the cannabis industry.
The Progress Of Top Marijuana Companies In The Cannabis Industry
- Trulieve Cannabis Corp. (OTC:TCNNF) & Harvest Health & Recreation Inc. (OTC:HRVSF)
- Tiraly Inc (NASDAQ:TLRY) & Aphria Inc. (NASDAQ:APHA)
Trulieve Cannabis Corp. & Harvest Health & Recreation Inc.
In the most recent cannabis industry report, Trulieve Cannabis Corp. has now purchased Harvest Health & Recreation Inc. This deal has now made Trulieve the biggest MSO cannabis company in the world. This deal is huge and presents a great deal of opportunity for Trulieve as this purchase was set at $2.1 billion. As well this agreement would now give Trulieve access to the Arizona adult-use market.
Some key highlights from this new deal give Trulieve a solid and expanding multi-state presence. As well as adding more premium cannabis brands to its inventory it also optimizes its nationwide presence. This is being done through well-established retail and wholesale channels across various markets. Another positive factor to mention is not only the largest MSO but it’s now the most profitable.
With finalizing other previous ventures between Harvest and Trulieve big moves are underway. For instance, both companies doing business will have operations in 11 states. This would be made up of 22 growing and processing facilities. In addition to having 126 cannabis shops serving both the medical and adult-use recreational cannabis markets.
Final Thoughts On TCNNF And HRVSF
“Today’s announcement is the largest and most exciting acquisition so far in our industry, creating the most profitable public multi-state operator. Importantly, our companies share similar customer values with a focus on going deep in core markets. This combination offers us the opportunity to leverage our respective strong foundations and propel us forward with an unparalleled platform for future growth,” stated Kim Rivers, Chief Executive Officer of Trulieve.
“We are thrilled to be joining Trulieve, a company that has achieved unrivaled success and scale in its home state of Florida,” said Steve White, Chief Executive Officer of Harvest. “As one of the oldest multi-state operators, we believe our track record of identifying and developing attractive market opportunities combined with our recent successful launch of adult use sales in Arizona will add tremendous value to the combined organization as it continues to expand and grow in the coming years.”
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Tiraly Inc & Aphria Inc.
Another big deal that has also recently taken place is the merger between 2 Canadian powerhouses Tiraly Inc & Aphria Inc. Back on December 16th news came out about these 2 companies merging as one. However this past week this merger became official as the deal has now been finalized. Irwin D. Simon, Aphria’s Chairman and CEO, will Lead the New Tilray and Has Appointed New Executive Leadership Team. This new Tilray is poised to transform the global cannabis industry as a consumer packaged goods powerhouse.
As well the company now has a Diversified Portfolio of Leading Brands to build off of and will continue trading on the NASDAQ under the symbol TLRY. Along with Trulieve Cannabis Corp., this makes Tilray one the world’s biggest global cannabis companies. Furthermore, this merger also positioned the company to capture an accelerated international growth strategy.
Irwin D. Simon, the Company’s Chairman and Chief Executive Officer, commented, “Our focus now turns to execution on our highest return priorities including business integration and accelerating our global growth strategy. Covid-19 related lockdowns have presented unique challenges across Canadian and German markets.