cannabis

OVERVIEW AND CHALLENGES

Cresco Labs is one of the largest, vertically integrated legalized cannabis companies in the world with a multi-state presence in the U.S. and a portfolio of consumer and medical brands. In March 2022, the company acquired Columbia Care, a domestic competitor and major player in the cannabis space.The combined company would create the world’s largest legalized cannabis company, but given the complex nature of the deal, the communications challenge was clear: make an announcement with the biggest impact and the best media coverage to reach the right investor and industry audiences.
The legalized U.S. cannabis industry faces an intricate set of challenges. First, marijuana remains a Schedule 1 substance under the Controlled Substances Act at the federal level even as states enact a patchwork of legalization that includes medicinal applications, decriminalization and recreational use. Regulatory hurdles also block cannabis companies from listing on US-based stock exchanges and present significant restrictions on banking.

The Rally Point team was tasked with diving in deep alongside the internal communications team, additional communications resources and other stakeholders.

PR STRATEGY

Rally Point developed an all-out communications plan including:

  • Working closely with all stakeholders to align the right messaging.
  • Developing a tightly controlled and timed media strategy for maximum impact, with tiered sets of outreach and coordination across internal and additional external communications resources.
  • Executing a complex media outreach program targeting global coverage.

RESULTS

Rally Point successfully planned, managed, and executed one of the largest-ever M&A deals in the legalized cannabis industry, with major implications for investors, employees, partners and consumers. The deal was covered by more than 650 media outlets with top-tier highlights including Forbes, New York Times, Barron’s, MarketWatch, CNBC and hundreds more.

  • Market expected to top $38.2 Billion by 2028
  • One of the largest-ever M&A deals in the legalized cannabis industry
  • Coverage in over 650 media outlets
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