The opening of The Botanist on Seneca St means that Buffalo is now home to another dispensary from a cannabis industry giant, Acreage Holdings (OTCMKTS: ACRGF). Acreage, formerly an investment holdings company known as High Street Capital Partners, LLC, restructured to a fully operational cannabis company in March of last year. Acreage currently operates 16 dispensaries with licenses for 78 in 18 states. Acreage’s board includes a former Canadian Prime Minister, former Speaker of the House John Boehner, and a former vice-presidential candidate Bill Weld. The political ties at Acreage may help them shape the industry at the state and federal level.
MedMen (OTCMKTS: MMNFF), the other cannabis company in town operates a dispensary in Williamsville and recently acquired PharmaCann (PharmaCannis) in the largest acquisition in cannabis industry history. MedMen has 16 dispensaries with licenses for 70 in 16 states. Both companies have rich histories of acquisitions. Acreage is just now beginning to convert stores to The Botanist brand. The Botanist located here in Buffalo, has another store in Baltimore, with three more planning to open in Massachusetts. Unlike The Botanist, MedMen already has a well-established brand in the cannabis industry and has stores located on prime real estate in Las Vegas, New York City, and Venice Beach.
Both stores utilize open layouts. MedMen dispensaries have been compared to Apple stores due to their layout, tech-savvy, and wood accents. The Botanist also utilizes wooden accents, but with greenery and foliage incorporated into the store the design. Buffalo is the second-largest market in the state.