Fire & Flower Holdings Corp‘s FLOWER-1.92%+ Free Alerts recently completed acquisitions of media outlets Wikileaf and PotGuide is primarily about tech stacking and not media control or amplification, president and CEO Trevor Fencott told Benzinga earlier this week.
While the company does not want to change how the media landscape operates, the surge of M&A deals includes media outlets at a growing rate. With business plans diversifying across the space, how media could be impacted remains unsure.
F&F’s activity marks the latest in a summer where major cannabis outlets made moves.
In early August, Leafly announced a go public plan with SPAC Merida Merger Corp. MCMJ. Once complete, Merida plans to take Leafly’s name, listing on the Nasdaq under the ‘LFLY’ symbol. The deal appears close, with Leafly COO Sam Martin speaking to Benzinga about the plans on September 15, 2021.
The deal follows similar efforts made by another cannabis media giant, Weedmaps.
In June, parent company WM Holding Company went public through a deal with SPAC Silver Spike Acquisition Corp. Silver Spike changed its name to WM Technology Inc MAPS-1.12%+ Free Alerts after the deal’s completion.
Calling the two acquisitions part of the company’s “asset-light digital strategy,” Fencott said F&F’s deal resembles Leafly and Weedmaps in using media as acquisition channels
To Read The Rest Of This Article By Andrew Ward on Benzinga
Published: September 17, 2021
Founder & Interim Editor of L.A. Cannabis News