The cannabis industry in the United States is the fastest growing industry over the last few years, and there are currently only nine states in the U.S. that cannabis is fully illegal in. Here at Conifer Insurance, we are extremely familiar with the ins and outs of the industry because of our Cannabis Insurance Program, where we offer coverage for dispensaries and provisioning centers, testing labs, indoor grow facilities, and more. The opportunities for cannabis, hemp and CBD oil businesses to flourish are currently at an all-time high. With our experience and knowledge in the industry, we want to bring attention to some of the leading public cannabis businesses by their revenue and year over year growth. Cannabis companies raised 13.8 billion in funding in 2018, according to cannabis industry research firm Viridian Capital Advisors, and we only see it going up from here.
Top 6 Leading Businesses in the Cannabis Industry
Trulieve
Trulieve is a Florida licensed medical cannabis provider that’s vertically integrated “seed-to-sale” operation has an estimated 55% of the Florida market. Their 1.6M sq. ft. cultivation properties service 181,020 patients and 29 stores in Florida, but they have announced expanding to California, Massachusetts, and Connecticut.
- 130% year over year growth
- $57.9 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
Curaleaf
Headquartered in Wakefield, Massachusetts is Curaleaf, a vertically integrated medical and wellness cannabis operator. Operating in 12 states, 49 local dispensaries, 14 cultivation sites, 13 processing sites, and serving 165,000 patients, their goal is to be the cannabis industry’s leading resource in education and advancement through research and advocacy.
- 231% year over year growth
- $48.5 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
Green Thumb Industries
Green Thumb Industries (GTI Grows) is based out of Illinois where they were voted Crain’s Best Places to Work in Chicago 2018. With a motto of inspiring impact at every level of the cannabis industry, they have made it their mission to provide safe, effective, and therapeutic medical cannabis nationwide in 13 manufacturing facilities and 96 retail locations.
- 228% year over year growth
- $44.7 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
MedMen Enterprises
Inside a 12,000 sq. ft. complex in Culver City, California is where MadMen calls home. Founded by Adam Bierman and Andrew Modlin in 2010, they had a simple vision of making cannabis a consumer product where quality, best practices, and brand reputations matter. Now operating in nine states, 32 retail locations, and with 2 million retail transactions since 2018, they are one of North America’s premium cannabis retailers.
- 104% year over year growth
- $42.0 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
Kushco Holdings
Founded in 2010, Kushco Holdings, Inc. is the parent company of multiple businesses in the cannabis, CBD, and other related industries. Their Kush Supply Co. brand is the nation’s largest premier producer of vaporizer products, packaging, supplies, and accessories. Headquartered in California they have now sold more than 1 billion units and strive to be the industry leader for responsible and compliant products and services in the cannabis industry.
- 221% year over year growth
- $41.5 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
Acreage Holdings
Since 2011, Acreage Holdings has grown to be one of the largest cannabis businesses in the United States. With their involvement in cultivation, process/manufacturing, dispensing, and consumer brands, they have their hands in the process every step of the way. In 2018 they debuted their retail store brand The Botanist, became a public company, and built a team to skyrocket their growth and accomplished a record year. Headquartered in New York, their slogan is to lead the way to safe, affordable cannabis for everyone
- 501% year over year growth
- $17.7 million (most recent quarterly sales as of 10/28/19)
As reported by New Cannabis Ventures
Our Cannabis Insurance Program covers everything these leading cannabis businesses offer and more. From seed to sale, our program protects your business every step of the way.
The loss control suggestions and information contained on this blog is being provided on an advisory basis only. Conifer Insurance Company and its employees make no warranties, expressed or implied, and assume no liability whatsoever for services, products, or loss control measures provided by any service providers. Contact your local, independent insurance agent for insurance coverage advice and policy service.
