"We predicted a consolidation," said Matt Cook, a former state official who oversaw the creation of Colorado's medical-marijuana business rules and now works as a consultant. "I think it's playing out exactly that way."
Frichtel said the dispensaries that thrive today have a lot of money behind them, which they have used to scoop up failing businesses and create dispensary chains. They have business-savvy managers.
The company announced recently that it plans to make formal bids for a handful of medical marijuana dispensaries in Colorado, saying it has identified cannabis businesses that it believes “would greatly benefit from the management expertise and leadership capabilities of Altitude Organic personnel.”
Its desire to acquire dispensaries comes amid MMJ industry consolidation in Colorado, where new regulations, financial and competitive pressures, and increased scrutiny by the federal government have forced out some cannabis players and led others to seek mergers.
Acquisition activity is typically a good sign for any industry, as it indicates that people are willing to make investments in a sector.
Brian Cook talks about buying dispensaries in Colorado. When I first heard the interview my impression was that not a lot of people would be selling their dispensaries because the sector is so hot. It seems the opposite is true... there are many sellers.
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