Are the Las Vegas-based owners of the world’s largest cannabis dispensary and destination location planning on opening a SuperStore here?
Don’t expect restaurants, digital koi ponds and robots just yet. But Planet 13‘s plans for Florida expansion got a big head start this month when the company purchased VidaCann, its 26 existing Florida dispensaries and its cultivation center. That’s on top of the four Planet 13 Florida locations already announced. So what can we expect?
Here’s what you need to know.
Planet 13 is a multistate cannabis company that opened with a big splash in Las Vegas with the world’s largest cannabis dispensary, a 115,000-square-foot entertainment complex with dining, a bar, shops, light-sabre-battling robots and an immersive glass-fronted production facility where customers can watch how their chocolate, gummy and beverage products are made. The 40,000-square-foot dispensary here is open 24 hours a day, seven days a week.
The company followed that with another SuperStore in California, this one in Orange County not far from Disneyland. This one is smaller than the one in Vegas but still easily the largest in California and it includes dynamic architecture, an 80-foot-wide digital waterfall, an interactive digital beach that marks your footprints, and multiple Instagram- and TikTok-friendly spots such as a giant octopus, brightly colored umbrella that occasionally drip rain and a van that fills with smoke.
According to Planet 13’s end-of-year results, the two dispensaries saw revenue of $104.6 million in 2022, up from $119.5 million for 2021.
Planet 13 also has announced plans for a location near Chicago, Illinois.
“Marijuana” begins with “m,” the 13th letter of the alphabet. The Planet 13 SuperStores are fronted with a massive red globe.
Not yet.
Unlike Nevada and California where marijuana is legal for recreational use, Florida remains a medical marijuana-only state. Planet 13’s initial plans — unless that legal status changes in the future — are for “neighborhood-style” dispensaries that forego the glitz and glamour and deliver a quality product, the company said.
“We are used to operating in a medical-only market. We’ve done it and that’s where we started, we’re familiar with it,” said David Farris, VP of Planet 13’s Sales & Marketing. “In our store in Las Vegas, for instance, we have people who come in and they want to get in and out in five minutes — they know exactly what they want. And then we have people who want to spend an hour and ask a ton of questions.”
But Florida is big on glitz, glamour and big amusement-park-looking places, and SuperStores are on the drawing table.
“SuperStores in markets with high tourist numbers like Orlando and Miami remain part of the plan,” Farris said. “These announcements will most likely occur after Floridians vote in favor of legalizing recreational marijuana in a future election.”
So far, Planet 13 has announced the company planned to open six “neighborhood-style stores” and has made moves in four spots in Florida:
The company also previously announced plans for an Orlando location and one in Miami.
“With the VidaCann acquisition, which includes their cultivation facilities, Planet 13 will have the capacity to produce enough product to supply up to 60 dispensaries, so there are plans to expand beyond the four Planet 13 locations and the 26 VidaCann dispensaries,” Farris said.
Farris said opening dates would be announced at a later time.
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Planet 13 signed a deal to acquire VidaCann, the ninth-largest cannabis dispensary in the state, for $48.9 million in cash, stocks and promissory notes. Closing is expected the first quarter of 2024.
“We are excited to bring Planet 13’s retail and product brands to Florida consumers after the closing of the proposed transaction, especially with the possibility of upcoming adult-use legislation,” Larry Scheffler, co-chief executive officer of Planet 13, said in a news release.
“This is being strategized internally, and Planet 13 will share updates on this when final decisions are made,” Farris said.
“Planet 13 currently has plans to bring their brands Haha Gummies, Medizin, Trendi, and more to be announced in the future,” Farris said. “Product offerings will expand as we complete the acquisition process.”
There are 590 medical marijuana dispensaries operating in Florida as of Sept. 22, according to the Florida Department of Health’s Office of Medical Marijuana Use (OMMU).
The largest number of them, 127, belong to Florida-based Trulieve. With 26 locations, VidaCann was the 9th largest company in the state.
There are currently 846,585 qualified patients with Medical Marijuana ID cards, OMMU said.
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A proposed initiative to put a recreational marijuana amendment on the 2024 general election ballot received almost one million verified signatures by the beginning of June, allowing it to officially qualify. But Attorney General Ashley Moody has challenged it and the Florida Supreme Court will have to decide if the proposal meets the standards, and then at least 60% of the voters need to approve it.
The ballot would legalize marijuana for adults age 21 or older for personal use, to possess, use, process and transport marijuana, marijuana products and accessories. It also allows cultivating nine live marijuana plants per adult with an eighteen-plant maximum per household.
“The people within the state want it, they want recreational,” Farris said. “We feel confident (it will happen).”
Planet 13: The Las Vegas-based marijuana dispensary has Florida plans – The Florida Times-Union
