US marijuana retail chain MedMen to partner with Canadian producer Cronos

Two major marijuana companies – Los Angeles-based MedMen and Toronto-based Cronos Group – have announced a joint venture to bring MedMen’s retail expertise to Canada.

According to a news release, the collaboration will result in the formation of MedMen Canada.

MedMen currently has operations in California, Nevada and New York; Cronos has concerns throughout Canada as well as Australia, Germany and Israel.

Here’s what you need to know:

• The joint venture plans to develop branded products, conduct research and development and open a chain of retail stores across Canada.
• MedMen Canada will use Cronos’ 350,000-plus square feet of production facilities.
• The arrangement is structured as a 50-50 partnership between the two companies.
• MedMen, which has 18 facilities in the United States and employs nearly 700 workers, anticipates going public in Canada in the second quarter of this year.
• Cronos owns and operates two licensed producers: Peace Naturals Project and Original BC.

Source: Marijuana Business Daily,  [https://mjbizdaily.com/us-cannabis-retail-chain-medmen-partner-canadian-mmj-producer-cronos/]

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