What Cannabis Companies Are In New York: New York State’s Eleven Cannabis Companies

There are many cannabis companies in the United States and most of them are based in New York. Because the market there is faster compared to others. In the United States, New York state lawmakers have agreed to exclude the sale of recreational cannabis as well as medical purposes from the scope of the ban. After this news, companies in New York gained full independence.

This was huge news for companies that had original medical licenses. Many companies will now be able to produce more. It also means new partnerships and more dispensaries for many companies. in this post, We talked about what cannabis companies are in New York.

There are many cannabis companies in the United States and most of them are based in New York. Because the market there is faster compared to others. n the United States, New York state lawmakers have agreed to exclude the sale of recreational cannabis as well as medical purposes from the scope of the ban.

After cannabis becomes legal in New York, experts predict that New York will quickly become the largest cannabis market on the East Coast, reaching $1.9 billion by 2025. And this is of course big news for New York-based companies. Many large companies will now be able to make your cat more prominent. It also means new partnerships and more dispensaries for many companies. In addition, companies will now be able to cooperate with and incorporate many brands.

And this was huge news for companies that had original medical licenses. They include; Acreage Holdings, Columbia Care, Cresco, Curaleaf, iAnthus, Etain Health, Green Thumb Industries, MedMen, PharmaCann, Vireo Health and Fiorello Pharmaceuticals. In this post, we’re talking about the New York cannabis companies we listed above.

Cannabis Becomes Legal In New York

In the United States, New York state lawmakers have agreed to exclude the sale of recreational cannabis as well as medical purposes from the scope of the ban. Cannabis has already been legalized in 14 more states in the country. But in New York, its recreational use and sale have been stuck in the state legislature in past years.

The said step was taken after the Democrats reached a majority in the parliament that would not allow a veto. By law, adults over the age of 21 will be able to purchase recreational cannabis and apply for a license to sell it.

For cultivation at the individual level, New Yorkers will be able to have cannabis plants in the form of 3 roots mature and 3 roots seedlings. The law will come into effect soon after it is passed by parliament, But the necessary regulations will be awaited before the sales can begin. This is expecting to take between 18 and 24 months. It will take at least a year to establish the program and sales aren’t expected until 2022.

In addition to the 9% sales tax throughout The State Of New York, an additional 4% tax will be applied to regional governments. In addition, penalties for possession of fewer than 3 ounces of cannabis and cannabis will be lifted, and any previous track record will be erased. Government loans, grants, and incubation programs will be provided to minorities, small farmers, women, and veterans so that the market is not dominated by big players.

New reports estimate that the New York cannabis market could reach $1.6 billion by 2022, a big jump from the $263 million expected in sales for 2020. This will be the fourth largest market in the US California is the largest market, followed by Colorado and Florida, respectively.

Eleven Cannabis Companies in New York

After cannabis becomes legal in New York, experts said New York will quickly become the biggest cannabis market on the East Coast, with sales predicting to reach $1.9 billion by 2025. And also of course, original medical licensees have an early advantage. They include Acreage Holdings, Columbia Care, Cresco, Curaleaf, iAnthus, Etain Health, Green Thumb Industries, MedMen, PharmaCann, Vireo Health and Fiorello Pharmaceuticals.

1. Acreage Holdings

The company believes cannabis has the power to heal and change the world. Its mission is to become the world’s leading cannabis company, bringing safe, affordable cannabis to everyone who needs it. The holding also continues to benefit from its ownership of New York Canna, now known as Terradiol New York. New York Canna was originally founded in 2015.

 New York Canna’s initial shareholders were intended to be New Amsterdam Distributors and EPMMNY. However, NAD and EPMMNY were unable to reach an agreement on EPMMNY’s contributions to the operating business and terms of investment. NAD said it was the sole shareholder of New York Canna when it started talking to Acreage, among others.

EPMMNY disagreed with that assessment and recently filed a lawsuit seeking $400 million. It said it was frozen in the EPMMNY lawsuit in 2016, and its stake initially fell to 12.5% ​​due to NYCANNA’s merger with defendant NY Medicinal Research & Caring, which included NYCI Holdings, Empire Holdings, and Acreage Holdings as investors.

Struggling with the challenges of COVID-19 last year, Acreage has continued its mission of providing the best products and customer experience to our consumers and patients. And it introduced Tweed, an example of Acreage’s ability to access Canopy Growth Corporation’s intellectual property. Under new leadership and with the best team in cannabis aligned with a refocused growth strategy, Acreage’s future looks brighter than ever before.

2. Columbia Care

It went public in the first quarter of 2019 following the merger with Canaccord Genuity Growth. In October 2019, it was announced that the two companies would merge. The companies agreed that CGGC would be valued at C$60.7 million and Columbia Care would be valued at US$1.35 billion. The company becomes the first US company to be licensed in the European Union. Columbia Care is a patient-centered organization that sets the standards for professionalism, quality, care, and innovation and works in partnership with some of the world’s most recognized and innovative teaching hospitals and medical centers.

3. Cresco

Cresco was founded in 2013 by Charlie Bachtell, who currently serves as CEO, and Joe Caltabiano, who served as president until his resignation on March 2, 2020. It is the trusted and fastest-growing cannabis company in the world. They offer a carefully crafted portfolio of brands for every consumer, from careful cultivation to consistent distribution.

The company is involved in every aspect of the process, from seed to sale. All of the facilities are backed by world-class agronomists, production experts, and state-of-the-art farming equipment who provide a commitment to quality, purity, and consistency. Products are packaged, shipped, and distributed nationwide.

In February 2019, Cresco announced the creation of a subsidiary and a new brand called Well Beings, which will offer versions of its other CBD only products. And also In July 2019, it announced plans to rebrand under the Sunnyside brand. Cresco’s first national retail brand, Sunnyside, represents a new strain of cannabis shop designed to help expand its health offering to include cannabis. Bright, inviting and convenient, Sunnyside will act as a hub for health and wellness for new and existing cannabis consumers alike.

4. Curaleaf

It is based in Boston MA. It has locations in seven New York boroughs. Curaleaf was founded in 2010 under the name PalliaTech. In 2013, investment group Sputnik, along with its CEO, Boris Jordan, acquired a 35% stake in the company. And the Company’s name was changed to Curaleaf in 2018, just before going public on Toronto’s Canadian Stock Exchange under the symbol CURA. It also raised $400 million, which is considered the largest stock offering in the history of the cannabis industry.

There’s a dispensary in Forest Hills, Queens, near Manhattan. The company’s latest earnings announcement said it estimated it will post $400 million in revenue in 2019, including revenue from nonprofits and $100 million in free cash flow. In 2019, it acquired the cannabis oil brand Select, making it the biggest cannabis operator in the United States.

In 2020, it acquired BlueKudu, a Colorado-based food manufacturer known for its infused chocolates and chewing gums. In 2020, Curaleaf became the world’s largest cannabis company by revenue after acquiring Chicago-based rival Grassroots Cannabis. In January 2021, Joseph Bayern, formerly chairman of Curaleaf, became its CEO.

In April 2021, Curaleaf announced that it had completed its previously announced acquisition of EMMAC Life Sciences Limited, Europe’s largest vertically integrated independent cannabis company. The acquisition provides Curaleaf cultivation, EU GMP certified processing, distribution, and R&D operations in several key European cannabis markets, including the UK, Germany, Italy, Spain, and Portugal. And finally, in May 2021, Curaleaf announced that it had signed an agreement to acquire Los Sueños Farms, the largest licensed outdoor plantation in Colorado.

5. iAnthus

Randy Maslow founded iAnthus in 2014 and has since served as Chairman and a member of the board of directors. In April 2020, Maslow was appointed Interim Chief Executive Officer of the Company. iAnthus was founded by entrepreneurs who brought together iAnthus is mission is to build valuable cannabis brands and a nationwide network of cannabis operations and distribution. A company that believes cannabis has the power to change the lives of those with chronic conditions, especially. iAnthus aim is to enable investors to take advantage of the rapidly evolving opportunity in a variety of ways, through their vertically integrated licensed businesses in major markets across the US.

Valley Agriceuticals was supposed to be sold to iAnthus Capital Holdings Inc. for $17.3 million in 2017, but the deal didn’t happen. iAnthus later acquired New York’s Citiva Medical for $18 million in early 2018. Citiva NY’s license included a growing and processing facility and four dispensary locations in Brooklyn, Staten Island, Dutchess County, and Chemung County. Citiva’s proposed 2,000-square-foot flagship Brooklyn dispensary is scheduled to open in Q4 2018, making it one of only two dispensaries in New York’s most populous borough with 2.6 million residents.

6. Etain Health

Etain Health is one of the original five licensees in New York and remains a private company. It is a family business run by women in New York. Etain Health, a vertically integrated agribusiness and medical cannabis dispensary, announced its rebranding alongside its cannabis products on August 6, 2020. The family that owns the Peckham Company has transformed it into a dispensary and retail location for the commercial distribution of THC-free products.

Etain Health has created a unique wellness and concierge experience by combining this high environment with personal consultations and premium products so that customers feel good about investing in their health and well-being. With the opening of its flagship location, Etain Health will continue to sell cannabis products to licensed New York state patients alongside various non-THC New York-based health and wellness brands.

Brands include Patriae hand-woven hemp and linen textiles, including botanical health products from Nature of Things, Rishi’s organic teas, Khushi handmade body balms and oils, Golde superfood face masks, and face coverings. “Buy cannabis from Women” will also feature a rotating selection of limited edition products from various women’s brands. Store staff will be outfitted with custom aprons from local women’s textile designer Utility Canvas and can also purchase canvas products.

Hillary Peckham, Chief Operating Officer, and co-founder said: “Over the past year we have reevaluated, recalculated, and re-imagined the brand. What remains consistent is our commitment to the well-being of our customers by creating the highest quality and purest products to meet our customers’ needs.

7. Green Thumb Industries

Green Thumb Industries is a national cannabis consumer packaged goods company and retailer dedicated to providing dignified access to safe and effective cannabis nationwide. Green Thumb Industries was founded in 2014 by Ben Kovler. As a vertically integrated company, Green Thumb Industries manufactures and sells a versatile package of branded cannabis products, including flowers, concentrates, edibles, and topicals.

Green Thumb Industries includes brands such as Rythm, Dogwalkers, Dr. Solomon’s, The Feel Collection, The Incredibles, and Beboe. Named Hermes of Cannabis by the New York Times in March 2018, Beboe embarked on a first-of-its-kind exclusive partnership with Barneys New York for a luxury cannabis store called The High End, which opened in Beverly.

8. MedMen

MedMen was co-founded by Adam Bierman and Andrew Modlin in 2010. In 2018, MedMen West Hollywood was one of the first cannabis retail stores to open in California after the state’s recreational cannabis laws came into effect. MedMen opened its first branded retail outlets in New York in 2018 and the first medical cannabis dispensary in Florida in 2019.

MedMen acquired PharmaCann in an all-stock deal for $682 million in October 2018. Not only has it doubled MedMen’s reach, but it has also expanded its presence in New York. MedMen acquired New York’s embattled Bloomfield Industries in 2018. because the Company could not pay the sellers and was looking for new investors. Bloomfield was one of the original five licensees in New York.

On February 1, 2020, Adam Bierman stepped down as CEO and surrendered all Class A super-voting shares. Ryan Lissack has been appointed to serve as interim CEO. On March 30, 2020, MedMen announced that it has appointed Tom Lynch as Interim Chief Executive Officer and Head of Restructuring.

9. PharmaCann

PharmaCann was established in 2014. It is one of the largest vertically integrated cannabis companies in the country, offering safe, reliable, top-quality cannabis products to improve people’s lives. It is licensed in eight states for the cultivation, processing, and distribution of medicinal cannabis products for adult and pediatric patients, as well as for responsible adult use.

In 2018, MedMen Enterprises signed an agreement to acquire all shares of PharmaCann. The acquisition would be the largest in the history of the US cannabis business. However, later the two companies jointly decided to cancel the acquisition. MedMen’s stock has lost 61% since it announced its intention to acquire PharmaCann.

In June 2021, Cronos Group Inc. and PharmaCann Inc. today announced they have entered into a wholly-owned deal. A subsidiary of Cronos Group has purchased a fully diluted approximately 10.5% call option in PharmaCann. PharmaCann continues to invest in manufacturing infrastructure and brand development to take advantage of core consumer retail and business-to-business wholesale opportunities. He announced that he was very excited to be working with each other at the two companies.

10. Vireo Health

Vireo Health was founded in 2014 by Dr. Founded by Kyle Kingsley, and Vireo is a physician-run multi-state medical cannabis company. Vireo Health is a doctor-led cannabis company focused on bringing the best of technology, science, and engineering to the cannabis industry. Vireo is licensed to grow and/or process cannabis in eight markets and operates 16 dispensaries nationwide. Vireo has additional retail licenses in four markets.

Vireo had been making headlines for a long time as former executives were prosecuted for smuggling cannabis oil from Minnesota to New York in 2019. The company was trying to move inventory to meet its New York deadline, and the move came about because of a whistleblower. Dr. Laura Bultman and Ronald Owens, the company’s former chief medical officer and chief of security. He is accused of smuggling $500,000 worth of cannabis oil into New York.

11. Fiorello Pharmaceuticals

Fiorello Pharmaceuticals was founded in May 2014 by Dave Pompei, Co-Founder, and Chief Dispensary Officer. Fiorello Pharmaceuticals, Inc.’s mission is to provide compassionate service and access to high-quality medical cannabis from trained medical professionals to patients suffering from debilitating and life-threatening diseases. Fiorello Pharmaceuticals, also known as FP Wellness, is a New York State licensee only. And its partners are the following companies: The Clinic, Plant Consulting Group, and LIU Pharmacy.

Green Thumb Industries announced in 2019 that it has completed a $59.6 million cash and equity acquisition of Fiorello Pharmaceuticals. Green Thumb acquired New York City-based Fiorello in a transaction involving $46 million in cash and 1.7 million shares. The deal was first announced in June 2018.

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Savaş Ateş

I like cannabis. I read a lot about cannabis usage in the medical field. I researched a lot about planting it. I have started a cannabis business and i want to share my experiences with you.

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