Behind Goodleaf’s R650m cannabis bet
Cannabis wellness brand Goodleaf has done well for itself in its two years of operations, and a R650m merger with Lesotho cannabis grower Highlands Investments could unlock global success
"It’s a very hard thing to grow a vertically integrated business," says Warren Schewitz, founder and CEO of cannabis wellness brand Goodleaf. "It’s damned hard to be good at one thing — let alone two or three."
It’s for this reason that Schewitz is "super-excited" to be joining forces with Lesotho cannabis grower Highlands Investments. The R650m deal, announced last week, will give Highlands shareholders 35% of the new entity while Goodleaf shareholders will hold the remaining 65%. Importantly, it will create the largest vertically integrated cannabis company in Africa — a seed-to-sale operation that will leverage its low-cost production and its local distribution base as it expands globally...