MEDMEN ENTERPRISES Big strides forward
A busy two weeks doubling the number of statesOver the past two weeks MedMen has spent an estimated USD720m (BG est.) for the acquisition of 12 dispensaries and licenses for an additional 9. Furthermore it has acquired existing and planned cultivation for over 600,000 sq. ft. In total the company now has 66 licenses for retail in 12 states (up from 6) and 13 licenses for cultivation and production, confirming itself as the leading vertical integrated cannabis enterprise in the United States. We remain Buy with a FV of CAD10 per share.
Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.
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