MedMen Enterprises, Inc.
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MedMen Enterprises, Inc. - overview
Established
2010
Location
Culver City, CA, US
Primary Industry
Healthcare
About
Based in California, US, and founded in 2010 by Adam Bierman and Andrew Modlin, MedMen Enterprises Inc. , doing business as MedMen, operates as a cannabis company. The firm, which was formerly known as Ladera Ventures Corp, completed a reverse takeover with MM Enterprises USA, LLC, in May 2018, and changed its name to MedMen Enterprises Inc. , and began trading on the Canadian Securities Exchange under the ticker symbol MMEN, raising CAD 143 million in its IPO.
The company also trades on OTC (Over The Counter) under the ticker symbol MMNFF. In August 2021, a consortium led by Serruya Private Equity acquired a stake in MedMen Enterprises Inc. for USD 100 million in equity investment, or USD 0. 24 per share.
As of September 2021, the firm is being led by Tom Lynch, as its CEO, and employs more than 875 employees. The firm currently operates 23 retail stores across 5 states in the US including California, Nevada, Illinois, Arizona, and Florida, and has five cultivation and production facilities. MedMen Enterprises Inc. cultivates, produces, and distributes various recreational and medicinal cannabis to consumers, through its retail stores, curbside and in-store pickup, as well as proprietary delivery service.
The company offers a wide selection of products, that are sold under its own brand names LuxLyte, and MedMen Red. The firm also offers a loyalty program, MedMen Buds, that provides the consumers, access to various price discounts and promotional offers. MedMen Enterprises Inc. generated USD 42 million in revenue for the fourth quarter of 2021, and in 2020, the firm generated USD 157.
1 million in revenue. The company plans to accelerate its growth across the country, by opening more retail stores in California, Florida, Illinois, and Massachusetts.
Current Investors
Serruya Private Equity, Lafitte Ventures, Ltd., Cap-Meridian Ventures
Primary Industry
Healthcare
Sub Industries
Retail, Alternative Medicine
Website
www.medmen.com
Verticals
Cannabis/Medical Marijuana, E-commerce, Manufacturing
Company Stage
Mature
Total Amount Raised
Subscriber access only
MedMen Enterprises, Inc. - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| PIPE | Completed | MedMen Enterprises, Inc. | - | ||||||||
| Secondary Buyout | Announced | PharmaCann LLC | - |
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