MSOs Looking to Take on Trulieve, Florida Acquisitions and Establishment Imminent

Florida legalized medical cannabis in 2014, opening up the third most populous state to the green market. Florida’s billion dollar medical marijuana (MMJ) market is now the subject of contention from multi state operators (MSOs), all eager to capitalize on what will become one of the largest cannabis markets in the US. 

Founded in 1940, Trulieve is Florida’s premiere cannabis company, having already secured about 50% of the market through dispensaries. What led to its success? Early presence. To be issued a MMJ cultivation license in Florida, a company had to have at least 30 years licensing in horticultural production with a minimum of 400,000 plants in production. In addition, a $5 million performance bond is required to be paid by the company seeking licensure. This ensured those receiving licenses would have established practices and know-how to run large-scale operations, since licenses would be limited at the beginning for such a large market. To meet the requirements, Trulieve, then Hackney Nursery, partnered with two other local cultivators – the Simpson Nursery and the May Nursery – in 2015, giving birth to the present Trulieve operation. Trulieve now owns over 90 dispensaries in Florida, almost 50 more than the runner up Liberty Health (Ayr Wellness). 

MSOs that have joined Ayr Wellness in Florida include Curaleaf, Cresco Labs, Verano, and Parallel among others. Many of these MSOs own patents that will help protect their share of the market as well as being well-funded. Patent Forecast® will discuss these positions in a future insight and introduce subsidiaries flying low on the radar that contribute greatly to these positions. With over half a billion dollars of the market untouched by Trulieve, acquisitions in the state of Florida are imminent. Sign up for the Cannabis Patent Forecast today so you don’t miss out!