If anyone was still in doubt that the global economy, in general, is in full force, then they need to pay attention to what’s going on with the medical marijuana sector, especially concerning deals and mergers occurring between Canadian and American business owners.
Aphria and its founders are teaming up with the Schottenstein family, a big name behind American franchises such as American Eagle, and even a sports arena at Ohio State University. Aphria itself is Canada-based, but it also has a location in Florida. Now they are looking at Ohio to help expand their market.
The Schottensteins combined their name with Aphria to become Schottenstein-Aphria LLC, but the actual name of their business is Liberty Health Science, which only just went live on the Canadian stock exchange.
They are one of 185 companies seeking a license to become one of 12 anticipated cultivators in Ohio, and they hope to have an operation that includes up to 25,000 square feet of marijuana plants.
If their license is granted, they are looking seriously at a location near Amherst, OH, so that the Canadian half of the team can be close to their home base. They also chose the Schottensteins in Columbus, Ohio because of their knowledge of the retail industry, especially within the state. Says Aphria co-founder Cole Cacciavillani of the merger: “Combined, we could be a really strong entity.”
Ohio and Florida are not Aphria’s only forays into the Stateside medical cannabis market. They’re also setting up shop in Arizona as well. There are seven major companies that have their hand in the North American medical cannabis market, and Aphria is one of them.
Many of these companies, including Aphria, are looking at Ohio closely for market share because nearly 25% of Ohio’s 11.6 million citizens qualify for medical marijuana on one level or another.