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Green Thumb Industries
Green Thumb Industries Inc
Company typePublic
OTCQX: GTBIF
CSE: GTII
IndustryCannabis
Founded2014, in Chicago, United States
FounderBen Klover
Headquarters325 West Huron Street,
Chicago, Illinois
,
United States
Number of locations
  • 20 manufacturing facilities
  • 101 retail locations
 (2024)
RevenueUS$1,100,000,000 (2024)
US$601,100,000 (2024)
Number of employees
4800 (2024)
Websitegtigrows.com
Footnotes / references
[1]

Green Thumb Industries (GTI) is a cannabis company in the United States, with its headquarters in Chicago, Illinois.

History

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Green Thumb Industries was founded in 2014 by Ben Klover.[2][3] The company started with one dispensary in Mundelein, Illinois.[4] Early investors in Green Thumb include: Leon Cooperman;[4] Emily Paxhia;[4] Ari Levy, of Levy Restaurants;[5] and Peter Kadens, who served as CEO until 2018.[5]

In June 2018, Green Thumb was listed on the Canadian Securities Exchange with the trading symbol GTII. At the time, Green Thumb had 350 employees across seven manufacturing facilities and 50 retail stores in seven states. By the end of the first day, the stock price closed at CA$8.95, up 74 cents from opening.[6][7] The Canadian Securities Exchange had become a natural home for American cannabis industry companies like Green Thumb due to marijuana's federally illegal status in the United States.[8]

In March 2021, Green Thumb was put under federal investigation for possible "pay-to-play" violations. Green Thumb had hired lobbyists and consultants and donated to pro-cannabis PACs throughout the company's existence.[5]

In August 2021, Green Thumb bought 38 acres (15 ha) of land in Warwick, New York, for the construction of a cannabis cultivation and processing plant. The land is on the former site of the Mid-Orange Correctional Facility and now forms a new business park. Fellow cannabis industry companies urbanXtracts, PharmaCann, and Citiva Medical also have a presence nearby.[9][10] A groundbreaking ceremony was held on September 9th.[11]

In July 2023, Green Thumb was sued by fellow Chicago based cannabis company Cresco Labs for poaching employees. The lawsuit alleged that Matt Ingram, Green Thumb's senior vice president of operations, had been reaching out to recruit Cresco employees, despite knowledge of their 12-month non-compete clause. Christopher Tonge, former director of technical services at Cresco Labs, had been one of those employees who was recruited by Ingram, allegedly breaking his non-compete contract.[12][13]

In November 2023, Green Thumb's incredibles brand partnered with Magnolia Bakery to produce a new limited range of cannabis edibles.[14] In January 2025, Green Thumb Industries and Chicago music venue The Salt Shed announced a two-year partnership to sell THC products on-site, including RYTHM branded marijuana, incredibles branded gummies and chocolates, Beboe branded gummies, and Señorita branded THC margaritas.[15][16]

Brands

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RISE dispensary in Silver Spring, Maryland

Green Thumb Industries has a number of different brands under which is produces and distributes cannabis products, including: RYTHM, Dogwalkers, incredibles, Beboe, Good Green, Doctor Solomon's, and Shine.[17][4] Doctor Solomon's topped a 2023 Chicago Reader poll for best topical cannabinoid.[18] RISE is GTI's brand of dispensaries which has locations across 14 states.[19][20] On November 23 2024, the 100th RISE dispenary was opened in Carson City, Nevada.[21][22]

See also

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References

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  1. ^ "Green Thumb Industries Reports Fourth Quarter and Full Year 2024 Results". investors.gtigrows.com. Retrieved 2025-04-08.
  2. ^ Ahrens, Dan (2023-04-04). Investing in Cannabis: The Next Great Investment Opportunity. John Wiley & Sons. ISBN 978-1-394-17133-0.
  3. ^ Clifford, Tyler (2021-03-10). "As Green Thumb opens its first California cannabis store, CEO says, 'This is a long-term game'". CNBC. Retrieved 2025-04-08.
  4. ^ a b c d Yakowicz, Will. "The Making Of New York's $150 Million 'Cannabis Campus'". Forbes. Archived from the original on 2025-03-01. Retrieved 2025-04-09.
  5. ^ a b c "Chicago-based marijuana giant part of federal pay-to-play investigation". Chicago Tribune. 2021-03-29. Archived from the original on 2024-06-06. Retrieved 2025-04-09.
  6. ^ "US marijuana companies go public in Canada". Chicago Sun-Times. 2018-07-25. Retrieved 2025-04-09.
  7. ^ Bernard-Kuhn, Lisa (2018-06-13). "Green Thumb Industries makes trading debut in Canada". MJBizDaily. Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  8. ^ "U.S. marijuana companies go public in Canada". PBS News. 2018-07-25. Retrieved 2025-04-09.
  9. ^ McKenna, Chris. "Marijuana company buys Warwick land to build 450,000-square-foot production plant". Times Herald-Record. Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  10. ^ Bellamy, Lana (Nov 11, 2024). "How Warwick turned a shuttered prison into a thriving business park". Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  11. ^ Gavan, Roger. "Green Thumb Industries breaks ground at former Mid-Orange Correctional Facility". www.warwickadvertiser.com. Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  12. ^ "Chicago weed giant Cresco Labs claims in suit that competitor GTI poached a top-level employee". Chicago Sun-Times. 2023-07-21. Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  13. ^ "Cannabis Conflict in Chicago: Cresco Labs Sues Green Thumb". Cannabis Business Times. 2023-07-24. Archived from the original on 2025-04-09. Retrieved 2025-04-09.
  14. ^ Valinsky, Jordan (2023-11-01). "Magnolia Bakery is turning its most iconic desserts into cannabis edibles". CNN. Archived from the original on 2023-11-29. Retrieved 2025-04-09.
  15. ^ "Green Thumb Industries brings cannabis to the Salt Shed with on-site retail shop". Chicago Sun-Times. 2025-01-24. Archived from the original on 2025-02-10. Retrieved 2025-04-08.
  16. ^ "Green Thumb Industries Partners With Chicago Music Venue to Bring THC Products to Concerts". Cannabis Business Times. 2025-01-10. Archived from the original on 2025-01-19. Retrieved 2025-04-08.
  17. ^ "Overview". Green Thumb Industries. Archived from the original on 2025-01-18. Retrieved 2025-04-08.
  18. ^ Reader, Chicago (2024-02-21). "Best of Chicago 2023: Cannabis poll winners". Chicago Reader. Archived from the original on 2024-09-12. Retrieved 2025-04-08.
  19. ^ "RISE". Green Thumb Industries. Archived from the original on 2024-11-29. Retrieved 2025-04-08.
  20. ^ "About RISE Dispensary | RISE Cannabis". RISE Dispensaries. Archived from the original on 2025-01-21. Retrieved 2025-04-08.
  21. ^ StockTitan (2024-11-22). "Green Thumb Industries Opens 100th & 101st RISE Dispensaries in Major Expansion". Stock Titan. Retrieved 2025-04-27.
  22. ^ Release, Press (2024-11-22). "RISE Dispensary Celebrates 100th Location with Carson City Grand Opening". Carson Now. Retrieved 2025-04-27.
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