Cannabis MSOs On Buying Spree In Florida In Bid To take On Trulieve

Florida’s market is now running at more than $1.2 billion in annual sales

Cannabis multistate operators have made a flurry of acquisitions in Florida totaling more than $500 million over the past year, aiming to make inroads into Trulieve Cannabis’ domination of a medical marijuana market where annual sales top $1 billion.

Florida-based Trulieve’s share of the state’s smokable MMJ flower market hovers at around 50%, virtually unchanged from 18 months ago and a level unmatched anywhere in the United States.

But with Florida’s market now running at more than $1.2 billion in annual sales, that still leaves $600 million for other operators, said Andrew Livingston, director of economics and research at the Denver-based cannabis law firm Vicente Sederberg.

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