Green Thumb Industries (OTCMKTS:GTBIF) has announced plans to open its 53rd store, Essence Pasadena, on March 10, with a guest-appreciation grand opening expected on March 20.
Green Thumb opens the first store in California
The company will donate profits from March 10 and March 20 to the Pasadena Chamber of Commerce Foundation, where the funds will be used for the Minority Small Business Initiative. The initiative offers support to women and minority-owned businesses. Ben Kovler, the company’s CEO, said that opening the first Green Thumb retail location in California is a massive milestone. He said that they respect the years of progress in California and the operators that have worked to create cannabis access and well-being in the state. Kovler said that the company’s activities have been possible because those who have worked to enable cannabis access and Green Thumb are honored to donate.
Pasadena Chamber CEO Paul Little said that Green is a welcome addition to the community. He said that their commitment to Pasadena has been evident through their eagerness to support the minority business community by dedicating profits from Essence Pasadena’s first sales to the Pasadena Chamber of Commerce Foundation. Paul said that the company has shown commitment in the long term by supporting small businesses that font have adequate resources to invest in Chamber membership.
Green Thumb enters partnership with Cann
Recently, the company announced a partnership with Cann to manufacture and distribute its cannabis-infused sparkling beverages line from spring in Illinois. Green Thumb and Cann plan to expand this distribution to other markets that include New Jersey, which recently legalized recreational cannabis sales.
Kovler said that the cannabis beverage category expects more growth as consumers enter the market for alcohol alternatives, offering familiar experiences. He added that Cann sits on the opportunity, delivers on consumer needs, and complements Green Thumb’s brand portfolio with entry into the market. Most importantly, cannabis drinks offer a superior experience, no hangover, fewer calories relative to alcohol, and the partnership with Cann will enable the company to deliver the number one cannabis beverage in Illinois.
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