Ryan Hudson co-founded The Apothecarium in San Francisco in 2011.
On Monday, he agreed to sell the retail company and its assets to a Canadian wellness firm for a cool $118 million to help fuel future growth.
Hudson – who will remain The Apothecarium’s CEO – is the latest in a slew of California marijuana executives who’ve sold out to Canadian companies or struck some form of partnership.
Others have listed their companies on the Canadian Securities Exchange to raise capital to fund expansion.
Marijuana Business Daily spoke with Hudson on Monday to discuss the sale of The Apothecarium to the Canadian marijuana firm TerrAscend.
In addition to its three San Francisco retail shops, The Apothecarium has a vertically integrated operation in Nevada as well as edibles manufacturing brand Valhalla Confections, which has a footprint in New Mexico’s medical marijuana market.
How does this acquisition play into your long-term plans for The Apothecarium?
We think it’s a great fit. TerrAscend is a wellness company at its core, and The Apothecarium is too.
They really appreciate what we do and how we do it: our in-depth consultations with our patients, the education we give the community and everything we do.
They’re excited about bringing The Apothecarium to more people in more cities and more states – and maybe even internationally.
You said in a news release about the deal that “no dramatic changes” are planned at the company, but there must be some things that will change because of this deal. For instance, you raised the possibility of an international play.
From a day-to-day perspective, nothing is really going to change at the stores, as far as the customer and employee experiences.
But what I’m excited about is this is an opportunity for The Apothecarium to imbue its ethos, its manner of doing business,