This story was republished with permission from Crain's Detroit and written by Dustin Walsh. Mount Pleasant-based cannabis company Stash Ventures has made a significant move in the industry by acquiring the dispensaries of Troy-based Cloud Cannabis Co. This acquisition marks the first notable transaction in the sector for 2024, signaling potential growth and consolidation within the cannabis market.
Stash Ventures, a vertically integrated marijuana company in Mount Pleasant, Michigan, has taken over 11 stores from Cloud Cannabis Co., including a dispensary in Kalamazoo. This strategic acquisition allows Stash Ventures to expand its presence in the state and cater to a wider customer base in the rapidly growing cannabis market.
Several dispensaries are hosting events and offering deals on 4/20, the unofficial holiday celebrated by cannabis enthusiasts. With the addition of Cloud Cannabis Co.'s locations to its portfolio, Stash Ventures is poised to capitalize on the increased demand for cannabis products during this festive time of year.
There's never a shortage of newsworthy headlines from Michigan's cannabis industry as the state inches closer to becoming the nation's leading producer of weed. The acquisition of Cloud Cannabis dispensaries by Stash Ventures is just one example of the ongoing evolution and expansion of the cannabis market in Michigan.
The retail chain now has plans for up to a half dozen new dispensaries opening by year's end, showcasing its commitment to growth and innovation in the cannabis industry. By acquiring Cloud Cannabis Co.'s locations, Stash Ventures is positioning itself as a key player in the Michigan cannabis market and solidifying its presence in the state.
A West Michigan cannabis company is celebrating the acquisition of a dispensary in Kalamazoo. Muskegon-based Cloud Cannabis Co. now operates under the ownership of Stash Ventures, signaling a new chapter in the company's growth and development in the cannabis industry.
Cloud Cannabis began recreational weed sales at its Detroit location earlier this month, making it one of the first dispensaries in the city to offer cannabis products to the public. With the acquisition by Stash Ventures, Cloud Cannabis Co. is expected to expand its reach and deliver high-quality cannabis products to a broader customer base.
Another cannabis store is set to open in the Grand Rapids area, this time in an outer suburb, providing more options for cannabis enthusiasts in the region. The expansion of cannabis dispensaries in Michigan reflects the growing demand for cannabis products and the increasing acceptance of cannabis use in the state.
