Green Thumb Industries Inc. - Founder and CEO, Ben Kovler
Founder and CEO, Ben Kovler
Source: CNBC
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  • Green Thumb Industries (GTII) has acquired Minnesota-based cannabis company LeafLine Industries
  • LeafLine is one of only two licensed cultivators in the Minnesota medical cannabis market
  • It operates a cultivation facility and five retail locations in the state
  • With this acquisition, Green Thumb now serves over 50 per cent of the United States population
  • Green Thumb Industries is a Chicago-based national retailer of medicinal and recreational cannabis
  • Shares in Green Thumb Industries Inc. (GTII) are up 2.10 per cent, trading at $27.77 per share

Green Thumb Industries (GTII) has acquired Minnesota-based cannabis company LeafLine Industries.

As one of only two licensed cultivators in the Minnesota medical cannabis market, LeafLine is licensed to grow, process, and dispense cannabis directly to patients.

With this acquisition, Green Thumb now serves over 50 per cent of the population of the United States, including California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Minnesota, Nevada, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, and Virginia.

“We are excited to enter the Minnesota medical market and broaden access to cannabis products for Minnesota patients,” said Green Thumb founder and CEO Ben Kovler.

By acquiring LeafLine, Green Thumb gains access to its cultivation facility and five retail locations in the state, with the option of opening three more retail locations.

“We look forward to caring for LeafLine’s existing patients while ensuring a seamless transition,” said Mr. Kovler.

The company’s CEO also remarked on Green Thumb’s recent advancements.

“Looking ahead,” he said, “we are ready to begin providing patients access to high-quality flower and edible products, both of which have been recently approved.

“As we kick off 2022, Green Thumb is thrilled to welcome over 100 new team members, a new state, and five new retail locations.”

Green Thumb Industries is a Chicago-based national retailer of medicinal and recreational cannabis.

The company manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Doctor Solomon’s, Good Green, incredibles, and RYTHM. It operates 17 manufacturing facilities and 73 retail locations across 15 states and serves millions of customers each year.

Green Thumb’s presence in Minnesota will further enhance and support the medical cannabis patient community through its high-quality branded products and experiences.

Shares in Green Thumb Industries Inc. (GTII) are up 2.10 per cent, trading at $27.77 per share as of 10:26 am EST.

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