Several marijuana growers are ranked as the biggest in their state. These include Charlotte’s Web Holdings, SunMed, SpeakEasy and Aphria. Each has a different view of the growing process.
Canopy Growth (CGC) is the largest grower of cannabis in Canada. With over 110 million shares outstanding, its market cap is over US$1.1 billion. It operates in recreational and medical marijuana markets.
The company recently announced a strategic growth plan. In an effort to improve financial performance, Canopy Growth is focusing on premium brands and product diversification.
The company is transitioning from a traditional cannabis producer to a consumer packaged goods company. This move will allow it to maximize return on investment.
Canopy has built a loyal following through high-quality products. The company has also developed distribution channels to reach its consumers in several markets.
The company has made a few acquisitions to broaden its business. Its latest purchase is US-based company Jetty Extracts. As part of the deal, Canopy will buy 75% of Jetty. However, this is a conditionally exchangeable deal, meaning that shareholders will not receive any dividends.
Canopy Growth is investing heavily in production facilities and sales channels. These investments have been made in order to take advantage of the market opportunity in the U.S. If it is able to succeed in this space, the company will be well-positioned for future growth.
But despite the company’s growth potential, it has been struggling to generate cash flows. In the fourth quarter, it reported a net loss of $513 million. On an annual basis, the company posted an adjusted loss before interest, taxes, depreciation and amortization of CA$340.3 million.
Charlotte’s Web Holdings
If you are looking to make a purchase in the cannabis sector, you may want to consider Charlotte’s Web Holdings (CW), one of the largest cannabis growers in the world. The company provides hemp-based cannabinoid wellness products. It boasts a market share of nearly 87%.
The company has an inventory of over $58 million and is poised for growth. They also have a strong brand and a comprehensive retail presence. This company has partnered with major brands to help get their name out there.
The company has a unique business model. It focuses on generating revenues in three channels: mass retail, e-commerce, and health food. Although the company has been profitable for many years, its revenue growth has not been consistent. However, this is expected to change in the near future.
The company has a good record of in-depth scientific research and has a solid portfolio of high-quality products. In addition, the company offers batch-specific certificates of analysis, which offer information on the exact concentrations of compounds in each batch.
Charlotte’s Web has been profitable for many years, but its margins have declined in recent quarters due to rising costs. But CW has a plan to rectify this issue. It plans to ramp production and expand distribution.
Aphria is one of Canada’s largest growers of cannabis. It has an impressive balance sheet and a strong management team. As a result, it has a competitive advantage over its peers.
The company has a market cap of $5.1 billion. It is currently the third-largest producer of cannabis in Canada. And it is poised to become the country’s top adult-use producer once its merger with Tilray is completed.
The deal will allow the two companies to operate under the name Tilray. Aphria is also looking into using Tilray’s beverage facility in London, Ontario. This would give the company the capacity it needs to accelerate production of edibles and beverages.
In addition to the merger, the two companies will combine their brands and distribution networks, which will create the country’s largest cannabis producer. They expect the deal to save them $78 million in the first two years.
Although the deal is still in the works, it is expected to close on May 9. Upon completion, the combined company will be the largest multinational producer of cannabis in the country.
As the legalization of recreational and medical marijuana continues to progress in Canada and the U.S., it is likely that other companies will follow suit. For example, Diageo and Shoppers Drug Mart have existing supply agreements with Aurora and Tilray, respectively.
SunMed is a horticultural company based in Cecil County, Maryland, that specializes in medical marijuana cultivation. It also provides branded infused products, pre-rolls and vape pens.
The founder of SunMed is Jake Van Wingerden, who is a third-generation greenhouse grower. His family has an ornamental horticulture legacy that spans 30 million square feet of greenhouse space in the United States. In addition to greenhouses, the Van Wingerden family runs a thriving bedding plant business.
When Van Wingerden first started SunMed, he planned to scale the operation from the start. But as the cannabis market in Maryland grew, he realized he had to expand to meet the demand.
He bought 45 acres of land in Earleville, Maryland. After a year of building, he opened his first cannabis greenhouse. Today, SunMed is the largest producer of sungrown cannabis in Maryland.
He aims to produce about 600 pounds of sungrown medical cannabis per week. The company uses a Dutch-style greenhouse cultivation method, which produces rich terpenes and complex flavor profiles.
While the company grows a lot of flower, it sells its infused products to processors and retailers. With an estimated 140 employees, the company is able to process 4,000 to 5,000 pre-rolls a day.
Harvest Health & Recreation is the largest legal grower of cannabis in the United States. It has a vertically integrated approach to the industry that is anchored in Florida. The company’s main brands include CO2LORs, Evolab, and Modern Flower.
Unlike other cannabis companies, Harvest has built its presence in the US with relatively little capital. As a result, it has the largest footprint in the country.
In addition to its thriving Florida business, Harvest has several other licenses in the states. California, Maryland, Massachusetts, and Pennsylvania are also home to dispensaries. Moreover, Harvest is in talks to purchase various operations throughout the U.S.
Harvest recently announced that it will open its first Arkansas retail site in Little Rock. This is in line with the company’s strategy of building regional hubs in strategic markets.
In the past, Harvest has acquired licenses in California, Massachusetts, and Pennsylvania. These acquisitions have allowed the company to grow in multiple states, which allows it to diversify its business. However, it plans to close its 14 retail locations in Florida.
In August, Harvest sued a California-based cannabis company, Falcon International Corp., for alleged failure to comply with the terms of a deal. Harvest claimed that Falcon International had demanded $50 million for breaking up the deal.
SpeakEasy Cannabis Growers
SpeakEasy Cannabis Growers is an integrated cannabis company with a mission to produce the leading cannabis products worldwide. Founded in 2013, the company’s flagship facility sits on the Geen family farm, which has been in operation for over 120 years. Located in the “Golden Mile”, British Columbia, the farm is in the middle of a rich farming tradition.
SpeakEasy’s operations are driven by passion. The company has a growing list of achievements, including an outdoor crop that survived a wildfire and a 60-acre outdoor field that ran an irrigation system 24 hours a day for two straight months.
The company is in the process of building a 80,000 square foot facility that will include extraction labs and growing labs, as well as a brand-new state-of-the-art research and development center. This will give the company the opportunity to scale up its operations and explore international sales opportunities.
Among the newest and most innovative aspects of the company is the “Craft Complex,” a state-of-the-art greenhouse complex that provides growers with the tools to deliver craft cannabis. With the right combination of climate-controlled small batch rooms, intergenerational knowledge, and modern technology, the Craft Complex gives growers the power to manage the entire growing process.
Maryland’s largest grower
SunMed Growers is the largest grower of cannabis in Maryland. The company is working on positioning itself for adult-use sales. Currently, SunMed has an operation with a total of 400,000 square feet of growing space.
SunMed is dedicated to providing safe cannabis for Maryland residents. It is a state-of-the-art greenhouse operation that has been in business for five years. They have plans to hire 50 more people to meet consumer demand.
SunMed Growers also produces joints, pre-rolls and vape pens. With a focus on quality, they aim to support local communities and invest in their employees.
SunMed is a family-run business founded by Jake Van Wingerden and his family. His uncles and first cousins are also involved in the company.
In addition to its cultivation operations, the company also has a processing facility and four dispensary licenses. This makes it the largest cannabis seller in Florida and Maryland.
Other large-scale operations are expanding their reach throughout the region. TerrAscend has a 156,000-square-foot growing site in the works. And Columbia Care has a 65-person workforce.
While Maryland is still a long way from recreational marijuana, there are dozens of businesses that are taking advantage of the state’s medical marijuana laws. Some of them are expanding their operations in 2021.