Columbia Care Rebrands as The Cannabist
The multistate operator Columbia Care has unveiled a new name and brand identity. From now on, it will be known as The Cannabist Co. The company is one of the biggest cultivators, manufacturers and retailers of cannabis in the U.S. with presence in 16 states.
Columbia Care has announced its rebrand months after it has terminated a $2 billion-worth merger with Cresco Lab, another big name in the cannabis sector. The high-stakes deal had a huge potential. The merger would have resulted in a company worth over $40 billion, a combined entity that could have grown into a company the caliber of Coca-Cola or Johnnie Walker.
Revamp Instead of a Merger
The merger did not succeed, but Columbia Care is now building on something that it started two years ago. The Cannabist was launched in 2021 as the company’s national retail brand, and so far it has 36 locations across the country. The revamp will apply to the company’s all other locations and facilities, which include a total of 94 dispensaries and 31 cultivation and manufacturing sites.
The Cannabist Co. said in a press release statement that it “will continue the process of converting its retail portfolio to the Cannabist brand across the country in 2024.”
The company’s Chief Commercial Officer, Jesse Channon, described the rebrand as “an incredibly pivotal moment for us as an organization and speaks to where we are heading.”
“When we launched Cannabist, we wanted to create a brand that could evolve with the rapidly growing industry and serve as the hub for all customers, regardless of what brought them in our doors,” said Channon.
Nicholas Vita, CEO of the Cannabist Co. also came forward with a statement. “This marks an important milestone in the Company’s evolution, signaling a fresh chapter and solidifying our commitment to providing an eco-system of collaborative technologies, products, and services,” Vita said.
“The Cannabist Company represents an opportunity to reintroduce ourselves in a way that combines our trusted heritage, passion for what we do, and the vision for where we are heading as a company and as an industry,” he said.
Ahead of the rebrand announcement, The Cannabist reported a capital raise valued at $25 million through a private placement.
Shares of the company trade as CCHW on the Cboe Canada Exchange (previously NEO Exchange) and CCHWF on the over-the-counter markets.
As of Thursday, Sep. 28, the company is trading its stock under new symbols as a nod to its new corporate identity.
Also read on Soft Secrets:
- Will Cresco Labs Acquire Columbia Care?
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Stephen Andrews
