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Home Podcast Cannabis M&A – The Highs and Lows of an Emerging Market

Cannabis M&A – The Highs and Lows of an Emerging Market

Cannabis M&A – The Highs and Lows of an Emerging Market

Charles Alovisetti

M&A Attorney | Author of "The Cannabis Business"

The evolution of the cannabis business is a complex and evolving industry that we discuss with Charles Alovisetti, one of the top cannabis lawyers in the country. Author of The Cannabis Business: Understanding Law, Finance, and Governance in America’s Newest Industry, Charles offers an overview of the industry and shares his insights on the legal challenges involved with M&A transactions in this growing industry. 

Guest Profile

Charles Alovisetti is a partner at Vicente Sederberg and chair of the firm’s Corporate Department. He is recognized by Chambers and Partners as one of the top cannabis lawyers in the United States. Charles focuses his practice on advising investors, companies, and other law firms on the nuances of executing corporate transactions involving licensed and ancillary cannabis companies. Prior to joining Vicente Sederberg, he worked as an associate in the New York offices of Latham & Watkins and Goodwin where he represented public companies and private equity sponsors and their portfolio companies in a range of corporate transactions. Charles is the author of The Cannabis Business: Understanding Law, Finance, and Governance in America’s Newest Industry 1st Edition.

Topics Covered

  • How big is the cannabis industry? [4:45]
  • What is the role of the regulatory council? [6:30]
  • What aspects of the purchase agreement need to be modified for a cannabis M&A transaction? [7:30]
  • What are the public market’s perceptions of the cannabis industry? [12:25]
  • What are the typical multiples for cannabis businesses? [13:20]
  • Overview of publicly held cannabis businesses [14:20]
  • Overview of the structure of the cannabis industry [15:10]
  • Do private equity firms invest in the cannabis industry? [17:00]
  • How is a cannabis acquisition different from other types of M&A transactions? [23.45]
  • What are the most common due diligence concerns in a cannabis M&A transaction? [31:10]
  • How long does the license transfer take? [32:30]
  • The cannabis industry in the USA vs. other countries [34:10]
  • What are the biggest obstacles to national cannabis legalization? [37:20]
  • What are the biggest current challenges in the cannabis industry? [40:30]

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Resources Mentioned

Acquired

Acquired

The Art of Selling a Business With $10 Million to $100 Million in Revenue

Written by Jacob Orosz, President of Morgan & Westfield

For a business to sell for what it’s really worth – or even more – you need to properly prepare. But too many entrepreneurs put off planning the sale of their business until the last moment. Acquired – The Art of Selling a Business With $10 Million to $100 Million in Revenue will help you prepare your business for sale and walk you through the sales process, dodging the pitfalls along the way. With a significant amount of your wealth tied up in your business, planning your exit is one of the most critical initiatives you’ll undertake.

Read more