The number of active dispensary licenses in Michigan has exploded in the last seven months, with 210 new licenses issued for a total of 712 dispensary licenses in the state. While many licenses are doubled up in one location, since Michigan manages medical and adult-use licenses separately, it illustrates the boom in new sales locations as Michigan, in the first seven months of 2021 has already sold more legal cannabis than it did all last year.
One interesting trend is that, while medical cannabis prices remain high compared to adult-use, and the number of registered medical patients has stayed steady, the number of new medical license registrations is only slightly less than adult use, at 94 and 116 respectively. You can download our datafile here, complete with license owners.
[Compare against our January dispensary report.]
The ownership structures of many cannabis retail locations are complicated, often with nested, multiple LLCs, or individual owners that own multiple locations under different company names. Here we dove into the data to learn more about the state of the market.
The biggest owners of locations include:
- Victor and Sahira Kattoula, who own stakes in 39 retail licenses. They use many different business names, such as Green Skies, 3Fifteen, and Green Roots.
- Lume Holding Company, or Attitude Wellness LLC, led by Douglas Hellyar, has 21 licensed locations.
- Jeffrey Radway’s Green Peak Industries and Skymint has 13 licensed locations.
- Gage Cannabis, with 9 licensed locations, owned by David Malinkowski
- Michigan Supply & Provisions, owned by Ascend Wellness, with seven locations.