As cannabis companies grow across borders, a host of multi-state vertical operators have become giants of the legal cannabis space by launching or acquiring brands across a variety of markets.
Tracking these houses of brands is key to a full understanding of the trajectory of the legal cannabis space. That’s where BDSA comes in: BDSA’s Parent Company Module grants users visibility into granular retail sales data of the brands owned by some of the largest “houses of brands,” as verified, mapped, and updated by BDSA. Here are a few top trends about parent companies from BDSA’s Parent Company Module…
Unsurprisingly, “house of brands” (mainly MSOs) make up a significantly larger share of developing markets with limited licensing.
Of the ~25 Parent Companies tracked and coded by BDSA, they make up a much larger percentage of sales in markets like IL and MD than in more “mature” legal markets like CO and CA.
Inhalables represent the bulk of the category share of the “house of brand” product sales.
While some parent companies are heavily invested in edibles, the lion’s share of sales for these companies come from inhalable products, with flower being the bestselling inhalable sub-category.
Top-performing parent companies capitalize by both launching and acquiring brands.
When it comes to crafting a winning brand portfolio, more isn’t always better. Most top-ranked “house of brands” in BDSA’s Parent Company Module have won valuable market share in new states by acquiring top-performing legacy brands.
BDSA’s 5 parent companies to watch in 2022
1. Cresco Labs
The largest “house of brands” tracked by BDSA, Illinois-based Cresco Labs has a host of subsidiary brands, including its flagship brand Cresco Cannabis, budget-friendly High Supply, and the edible brand Wonder Wellness Co. The parent company’s mix of brands has allowed Cresco Labs to make up a dominant share of the Illinois market.
2. Green Thumb Industries (GTI)
Another Illinois-based cannabis giant, GTI is notable for having the largest share of Massachusetts cannabis sales of any parent company in 2021. With a brand portfolio including legacy edibles brand Incredibles as well as Rythm and Dogwalkers, GTI has been able to claim a large share of dollar sales in the Illinois and Maryland markets.
3. Ascend Wellness Holdings (AWH)
One of the leading Massachusetts-based parent companies, Ascend Wellness Holdings made waves in 2021 with a brand portfolio that includes Ozone Premium Cannabis and Ozone Reserve, leading brands in the Illinois market.
Next up on the list is Verano, a parent company based out of (you guessed it) Illinois. Their brand portfolio includes edible brand Encore, tablet, and topical brand Avexia, and its flagship brand Verano.
With a diverse quiver of brands including BlueKudu and leading brand Select, Curaleaf has built a substantial presence in a variety of markets, including Arizona, where they hold one of the largest shares of dollar sales of any parent company.
You know the drill by now… we can never wrap one of these “Top Five” lists without an honorable mention, which this time must go to MariMed…
A top-performing company based in Massachusetts, MariMed is the parent of leading brands Betty’s Eddies, and Nature’s Heritage.