FinanceTop 5 Q2 cannabis investments and acquisitions

Top 5 Q2 cannabis investments and acquisitions


The cannabis industry continues to grow as states move toward medicinal and recreational legalization. The industry also saw considerable profits following the first year of a global pandemic. During a time where most businesses had to cease operations, the cannabis industry experienced tremendous growth after being declared “essential,” along with rounds of major Q2 cannabis investments.

With the world gradually reopening there is now more opportunity for industry business acquisitions and raises. These five companies made some pretty savvy moves during the second quarter of the 2021 fiscal year.

Hempfusion buys Apothecanna for $25M

CBD brand Hempfusion purchases all-natural body care line, Apothecanna for $15M. The purchase is to be made with a cash and stock combination, the details of which are set to be determined at a later date. An additional $10M can be expected if the profit revenue targets are achieved within the first year of acquisition. Apothecanna, the first topical CBD brand to expand in the United States will now see distribution to over 1800 stores in the United States, including CVS.

RAMM Pharma buys Cannapar for $22M

RAMM Pharma, a cannabinoid pharmaceutical company, started the process by acquiring 49% of Cannapar shares from previous largest shareholder, RIV Capital Inc. in December of last year. Cannapar, an Italy based company that produces CBD oil and isolates, will now have a stronger product presence in the European and Canadian markets. This acquisition gives Cannapar a position in the international hemp market in addition to a multipartnership and stronger presence within the European, Canadian, and Latin American cannabis markets.

Kadenwood completes $30M cash Series B

Kadenwood is a CBD consumer packaged good company that has been making financial strides in the industry recently. Last year, a Series A funding round produced $15M for the company, and also the acquisition of global manufacturer and supplier, EcoGen BioSciences. The first half of 2021 has also proven to be quite successful for Kadenwood; the company also acquired CBD wellness brands Healist Advanced Naturals and Social CBD earlier this year. A Series B funding round raised a total of $30M cash and media. Erik Dickens, Co-Founder and CEO, Kadenwood says the new round of funding will accelerate the company’s “mission of building enduring CBD brands that people trust as being safe and effective, while cementing our [their] position as a leading global, vertically integrated CBD company.” $20M of the proceeds raised in Series B are allotted to fund social media campaigns geared towards raising brand awareness.

Weedmaps goes public for $579M

The company behind every travelling cannabis consumer’s favorite app, Weedmaps, has completed a business merger with Silver Spike Acquisition Corporation (SSPK). The merger was originally projected at $1.5B with a $565M profit. The profit from the merger comes from $245M in a Silver Spike Acquisition Corporation trust. The remaining $325M was funded by a former private investor in public equity (PIPE).  $125 of the merger proceeds will be attributed to primary capital. The remaining $455M will go to existing equity holders. On June 16th SSPK was changed to MAPS for common stock. Cannabis consumers and individuals interested in investing in the cannabis industry can now do so through this familiar brand.

Trulieve buying Harvest Health for $2.1B

This acquisition is the largest cannabis acquisition transaction to date in the United States. On May 7th, Trulieve, operating in the northeast and southeast regions of the United States purchased Harvest Health & Recreation, Inc., a leading multi-state operator with a strong presence on the west coast and northeastern regions of the country, at the closing price of $2.1B. This acquisition positions Trulieve to become the most profitable contender in retail, cannabis cultivation, and production. The company will now operate in 11 states with 22 cultivation and production facilities and 26 dispensaries.

Aujha Aye
Aujha Alexander is a freelance writer and journalist with experience in video and radio production. Her work has appeared in 303 Magazine,,, and on Howard University's WHBC 96.3 FM.


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