Michigan’s cannabis industry is coming off a record-setting month with $128 billion in recreational sales in October, and industry leaders expect the state’s market to further mature in 2022.
Mergers and acquisitions are expected to continue next year as smaller operators are approached by larger companies about potential deals. Two years after Michigan’s first recreational cannabis dispensary opened, some West Michigan communities are experiencing signs of retail saturation, which experts say creates a landscape ripe for consolidation.
Warner’s Robert Hendricks, senior counsel and co-chair of the firm’s Cannabis Industry Group, is interviewed in this MiBiz article and shares: “There is obviously a saturation point for everything, and licensing will probably begin to slow down somewhat next year. ... We will probably see some more consolidation and people will maybe start looking for partners to team up for market share and also as some find out they are good at some parts of the business but not at others.”
To read the full MiBiz article, click here.
Hendricks, co-chair of Warner’s Cannabis Industry Group, is a commercial attorney with 36 years of legal experience working with businesses on entity formation, real estate, tax planning, commercial contracting and other areas. Learn more about his practice here.