Planet 13 Expands With 30 New Dispensaries: What’s The Secret To Higher Margins?
Planet 13‘s leadership, including co-CEOs Robert Groesbeck and Larry Scheffler and CFO Dennis Loganr ecently discussed the company’s strategic initiatives and market outlook in a webinar hosted by Pablo Zuanic of Zuanic & Associates.
The conversation covered significant updates on VidaCann integration, Florida expansion, lifestyle brand launch and updates on California and Illinois stores.
Florida Expansion And VidaCann Integration
Planet 13 (OTC: PLNH) completed the acquisition of VidaCann on May 10, 2024, enhancing its footprint in Florida. The transaction, valued at $54 million, included cash, stock and vendor take-back notes.
This integration brings Planet 13’s total to 30 dispensaries in Florida, with an additional five stores under construction.
VidaCann’s projected revenue run rate has increased from $32 million to $50-52 million annually post-acquisition. Future expansion plans include new stores in Miami, Orlando and Tampa, aiming for 31 stores by year-end.
Launch Of Lifestyle Brand And Apparel Line
Planet 13 introduced a lifestyle brand and apparel line to increase brand awareness and create an additional revenue …