Andrew Glassman Quoted in HBJ Article on Valuation Challenges in CT Cannabis Market 

Chair of Pullman & Comley's Cannabis practice Andrew C. Glassman was quoted in the Hartford Business Journal highlighting merger and acquistion activity in Connecticut’s cannabis market. He notes that the industry is costly: “You can’t just go into this business now and expect that there’s this trend toward appreciation of values of operations just because it’s a new industry — it’s now a maturing industry,” Glassman said. “It’s expensive to run a cannabis operation, and you have to turn a profit.”

Andy also emphasizes the importance of due diligence in these transactions. He compares it to traditional M&A deals, stressing the need to thoroughly evaluate financials, debt, and regulatory issues. Understanding a company’s financial situation, competition, and regulatory environment is crucial, especially in a market that has seen reduced investment and increased costs. This detailed approach is key to navigating the complexities of the cannabis industry today.

To read the full article, please visit the HBJ website here.