US marijuana retail chain MedMen to partner with Canadian producer Cronos

Medible review us marijuana retail chain medmen to partner with canadian producer cronos
Medible review us marijuana retail chain medmen to partner with canadian producer cronos

Two major cannabis 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.
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