National cannabis consumer packaged goods company and retailer Green Thumb Industries manufactures and distributes a broad portfolio of branded cannabis products. The company headquartered in Chicago, has 16 manufacturing facilities, 66 retail locations across 14 U.S. markets.
Green Thumb was established in 2014 and markets popular brands including Beboe, Dogwalkers, Dr. Solomon’s, Good Green, Incredibles, and Rythm in its owned and operated retail stores called 'Rise'.
The company's third-quarter revenue grew 49% beating estimates and profits more than doubled to $20.2 million, mainly due to higher traffic at its retail stores.
"American consumers are overwhelmingly choosing cannabis for well-being. People are demanding this product and we only see that growing," Chief Executive Officer Ben Kovler told Reuters.
With more states legalizing cannabis and access to federal banking, the sector is gaining traction with more customers and easier transactions.