Cannabis M&A Activity Likely to Soar This Year
The American cannabis industry continues to exhibit steady and consistent growth in 2021. According to New Cannabis Ventures, mergers and acquisitions within the cannabis space are projected to soar this year. Federal legalization on the horizon has increased interest and demand from operators outside of the cannabis industry.
In recent months, California has been the hotbed for M&As. Rather than going through a time-consuming application and approval process by local and state ordinances, multi-state operators have found success in acquiring turnkey business opportunities through brokers. These cannabis opportunities have opened the doors to acquisitions in retail, delivery, cultivation, manufacturing and distribution businesses, and licenses.
Green Life Business Group ended fourth quarter 2020 on a high note, selling 12 cannabis businesses. In first quarter 2021, Green Life Business sold eight cannabis businesses and is currently on track to surpass first quarter sales in this quarter.