Get the Highway Edge in another growing industry: Cannabis
Cannabis, COVID, and Consolidation.
The size of the global cannabis industry was USD $10 billion in 2018. Forbes Business Insights projects it will reach USD $97.35 billion by the end of 2026. That’s an astounding CAGR of 32.93% during that period. Going into 2020, the immediate future for the industry could be summed up in one word, “consolidation.”
It was shaping up to be the back-to-basics year with the lack of access to traditional sources of capital exacerbating the problem. Then add COVID-19 into the equation with the destruction of business properties, and consolidation – through mergers and acquisitions – is, for many, the only route to secure further funding and investments.
Focus on business fundamentals.
Businesses are focusing on the fundamentals to stay solvent or to make themselves attractive acquisition targets. Companies with the strongest business plans and balance sheets that can pass due-diligence scrutiny will be the investment targets that realize the bigger, long-term promise for the growth of the industry.