The 11-month-old Columbus company’s vision of becoming the top cannabis retailer in North America is being actualized step by step.
Green Growth Brands’ audacious business plan, collection of experienced retail executives, swagger and shocking early success all have drawn attention to the Columbus company that didn’t exist 11 months ago. This year is bound to be packed full of things to do for GGB—things that have the potential to raise its value from $900 million to several billion in 12 more months. How high can Green Growth get? Columbus CEO sat down with CEO Peter Horvath in Columbus and visited a GGB dispensary and grow facility in Las Vegas to get the whole picture.
Peter Horvath was taking a break from employment and waiting to see if something interesting would come along, and it did. In December 2017, he was invited to a meeting in New York with Columbus retail magnate Jay Schottenstein and Canadian investors. A conversation exploring opportunities in the cannabis industry, particularly in the U.S. but also in Canada, where it’s taken off much more quickly, resulted in the formation of Green Growth Brands on March 1. The company has plenty of market potential: It estimates that in the next five years, the cannabis industry will generate $28 billion in new revenue from 14 million consumers.
Inside of 11 months, Green Growth has raised $104 million in capital, acquired two companies, created four brands, grown from two to 70 employees, gone public on the Canadian Securities Exchange, won seven licenses in Nevada, acquired one license in Massachusetts and launched a hostile takeover bid for a company worth twice as much. “This is the Wild West, and I think that’s part of what attracts all of us to it,” says Horvath. “Can yet another business in Columbus …