Verano Case Study: A Single Source of Truth When Merging Cannabis Companies

by | Sep 15, 2021

About Verano

Verano is a leading, vertically integrated, multi-state cannabis operator in the US, devoted to the ongoing improvement of communal wellness by providing responsible access to regulated cannabis products. With a mission to address vital health and wellness needs, Verano produces a comprehensive suite of premium, innovative cannabis products sold under its trusted portfolio of consumer brands, including Verano™, Avexia™, BITS™, Encore™, MÜV™, and Savvy™. 

Verano’s portfolio encompasses 14 US states, with active operations in 13, including 14 production facilities comprising over 1,000,000 square feet of cultivation capacity. Verano designs, builds, and operates dispensaries under retail brands Zen Leaf™ and MÜV™, delivering a superior cannabis shopping experience in medical and adult-use markets.

Verano Challenge

Verano wanted to scale their cannabis operations by entering new markets and expanding deeper into existing key markets. To accelerate their expansion into Florida and Arizona, they made the strategic decision to merge with AltMed adding their award-winning MÜV™ products and dispensaries to the Verano brand.

It was important to Verano that during the merger they had accurate insight into the Florida and Arizona markets regarding data, inventory, workflows, and communications.

The cannabis industry is highly regulated and each state has its own requirements and mandates. Since each state’s requirements differ, most cultivators and dispensaries don’t operate on the same platforms. This can be a challenge cannabis companies have to overcome during mergers and acquisitions, as each company has its own processes, workflows, and sources of truth for information.

Having a physical blueprint during a merger or acquisition can be useful, but when you need to see a holistic picture there are limitations. Having all companies that are involved operating on the same systems and workflows can alleviate a lot of challenges and give each company and its team members an accurate view of all operations. To have a successful merger, Verano knew this would be an essential part of the formula for success.

Leaf Trade’s Wholesale Cannabis Solutions

Verano was already a Leaf Trade customer, and when they merged with AltMed they decided to onboard their teams to Leaf Trade. By having everyone on one system, they were able to follow the same processes which brought their teams together and provided accurate visibility.

Once on Leaf Trade, all teams, regardless of location, could access the same information, operate under the same workflows, and communicate directly from the platform. Leaf Trade was instrumental in assisting them to establish a standard process across the company no matter the state they operated in.

Leaf Trade provided Verano and AltMed with a singular platform where all teams could work. This helped establish team roles by defining the terms of who should be doing what in each respective market. Leaf Trade significantly aided in streamlining communications for all team members and made it easier to incorporate the AltMed team into Verano by putting everyone on the same page physically.

Through Leaf Trade, Verano and AltMed were able to save time in how they were completing tasks. They were able to communicate better and more effectively since they were all seeing the same data and inventory in real-time. Since Leaf Trade allows multiple users, the teams didn’t have to waste time passing information, messages, and data back and forth — everything could be sourced and sent through Leaf Trade.

“We had to completely stop using the other platform we were on because it was hurting us more than helping us. When the merger with Verano went through, people kept telling me about Leaf Trade. I was a little skeptical at first, but when we got the demo, I said, ‘Oh my God, it’s doing all the things the other platform doesn’t do.”
– Zack Swan, Director of Sales and Marketing, MÜV

Verano’s Leaf Trade Results

Leaf Trade provides cannabis wholesale operators with end-to-end visibility into their supply chain and brings teams together on a singular platform. When Verano and AltMed merged, this was essential to making the merger easier for both teams by providing everyone with a single source of truth for company information and communications.

Leaf Trade was the unifying platform for both the Verano and AltMed teams to start conversations on how they were doing things and to build their vision moving forward by keeping the team on the same page.

  • Live on Leaf Trade since 2018
  • Over 56K products sold since 2018
  • 87% increase in products sold YOY (2021 to 2022)
  • Nine vendor accounts listed on Leaf Trade