Exclusive Interview with MariMed President and CEO Bob Fireman
“Bigger doesn’t mean better,” according to MariMed (OTCQX: MRMD) President and CEO Bob Fireman. Cannabis MSO MariMed doesn’t have the footprint of some of its peers, but it is profitable and looking to grow. Fireman spoke with New Cannabis Ventures about the company’s current market presence, interest in M&A and bringing more attention to the company. The audio of the entire conversation is available at the end of this written summary.
A History of Organic Growth
The MariMed management team has been together for more than 10 years. Over that time, the team has built the company from the ground up, winning licenses to develop the core business. The business was financed through real estate management licensing fees, according to Fireman. Then a year and a half ago, the team made the decision to consolidate its client operating business into a public company.
The first operations rolled into the public company are in Massachusetts. MariMed owns a 135,000-square-foot manufacturing facility in New Bedford. It has developed 70,000 square feet, and it has ramped up to more than 1,000 pounds per month in the Massachusetts market. The company has a dispensary in Middleborough and two more in development. Its Betty’s Eddies, Kalm Fusion and Nature’s Heritage are top-selling brands in the state.
The Interior of a MariMed Dispensary in Massachusetts
Operations in Illinois have also been rolled into the public company. MariMed has been in the state since the inception of its medical program, and it won four licenses when the adult-use program launched. Three dispensaries are open, and the company is about to open a fourth location in Metropolis, Illinois, near the Kentucky border.