Information on the target
Global Go, LLC has successfully acquired Highroad Consulting Group, a firm specializing in cannabis licensing and compliance. This acquisition enhances Global Go's capabilities in navigating the complex regulatory landscape of the cannabis industry. Highroad Consulting Group is recognized for its expertise in helping cannabis businesses achieve compliance with state and federal regulations, making it a valuable addition to Global Go's portfolio.
Simone Sandoval, a partner and director of licensing and compliance at Highroad, brings extensive experience in cannabis regulations. Her background includes working in Washington, D.C., where she focused on legislation and policy research related to renewable energy, healthcare, and tribal relations. This expertise positions Global Go to better serve its clients in the evolving cannabis market.
Industry overview in the target’s specific country
The cannabis industry in the United States has experienced significant growth, particularly in states where legalization has occurred. As of 2023, the market is projected to reach over $41 billion, driven by increasing consumer acceptance and the expansion of legal frameworks. The COVID-19 pandemic has underscored the importance of cannabis as an essential medicine, leading to sustained demand even during challenging economic times.
State agencies, including the Bureau of Cannabis Control (BCC), California Department of Food and Agriculture (CDFA), and California Department of Public Health (CDPH), have classified cannabis businesses as essential. This designation allows licensed operators to continue their operations while adhering to strict health and safety guidelines. The emphasis on social distancing and sanitization has prompted many businesses to adapt their practices to ensure compliance and safety.
Moreover, the cannabis industry is witnessing a surge in investment as institutional players recognize the potential for growth and profitability. With a growing number of states legalizing cannabis for recreational and medicinal use, the market is becoming increasingly competitive. Companies that can navigate the regulatory landscape effectively are well-positioned to capitalize on emerging opportunities.
As the industry evolves, the need for expert consulting services becomes paramount. Firms like Global Go are crucial in assisting cannabis businesses with compliance, market entry stra…