Gage Cannabis
Vertically integrated cannabis operator in the Michigan market.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
$545m Valuation: $545m | Acquisition | ||
| Total Funding | 000k | ||
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Gage Cannabis is a vertically integrated cannabis company that was primarily focused on the Michigan market. The company's operations encompassed cultivation, processing, and retail of cannabis products. It was co-founded by Michael Hermiz and Rami Reda. Another source mentions Matt and Ashlee Mason as founders in 2018. A separate Gage Cannabis Co. based in Ayer, Massachusetts was founded by John Hillier. The Michigan-based Gage Growth Corp. was led by former Canopy Growth CEO Bruce Linton as Executive Chairman starting in 2019, with Fabian Monaco as President and later CEO.
The company established a significant presence in Michigan through a strategy of opening its own dispensaries and utilizing contract growers to expand its brand. It cultivated approximately 30 proprietary strains and focused on small-batch, indoor-grown cannabis. Gage's business model involved selling the majority of its products through its own retail channels rather than focusing on wholesale. The company also had an exclusive partnership in Michigan with the internationally recognized cannabis lifestyle brand Cookies, founded by rapper Berner, operating several Cookies-branded stores.
In September 2021, TerrAscend Corp., a major North American cannabis operator, announced it would acquire Gage Growth Corp. in a $545 million all-stock transaction. The deal was completed on March 10, 2022, making Gage a wholly-owned subsidiary of TerrAscend. The acquisition was a strategic move for TerrAscend to enter the Michigan market, which was considered the third-largest in the U.S. at the time. Following the acquisition, the combined entity was projected to operate 25 dispensaries and seven cultivation and processing facilities across five states and Canada. Gage was delisted from the Canadian Securities Exchange following the completion of the transaction.
Keywords: vertically integrated cannabis, Michigan cannabis market, cannabis cultivation, cannabis retail, Gage Growth Corp, TerrAscend, Cookies brand, cannabis processing, medical cannabis, adult-use cannabis, dispensary operator, proprietary cannabis strains, Bruce Linton, Fabian Monaco, cannabis M&A, cannabis operator, premium cannabis, cannabis flower, pre-rolls, concentrates, edibles, vape pens, cannabis branding
