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How to navigate consolidation in the cannabis industry

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Virtually all industries follow a predictable evolutionary path, from introduction to growth to maturity to decline.

As the cannabis industry evolves from growth to maturity, it’s no surprise the market is experiencing one of the most common developments – consolidation.


On the one hand, the cannabis industry might be flashing yellow – declining stock prices, saturated retail markets, squeezed revenues.

On the other, longer-term growth projections are uniformly positive, with industry revenue projected to approach $130 billion by 2031. And a highly fragmented industry such as cannabis is red meat for investors.

At the top end, large firms are merging to grow revenue and ease entry into new markets – Columbia Care by Cresco Labs in a $2 billion deal, Etain Health by RIV Capital ($247 million). TerraFarma by

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