Multi-state cannabis operator Grown Rogue plans to enter the Illinois cannabis market soon after signing a deal to takeover an existing cannabis production facility in Dwight, Illinois.
The company said it's acquiring a 49% stake in SEA Craft, which holds the Illinois craft grow license, and it expects to commence operations in the second quarter of 2026. It said it should have product available for the fourth quarter of 2026.
SEA Craft entered into a lease for a fully constructed cultivation and processing facility totaling 66,000 square feet. That includes approximately 10,000 square feet of existing indoor flowering canopy, with capacity to expand to the 14,000 square feet, and dedicated post-harvest, processing, and manufacturing infrastructure.
“Based on our experience in New Jersey and our current budget in Minnesota for Phase I new-build market entries, we have typically planned for approximately $10 million or more of upfront capital, including working capital, and roughly a year of construction before we can take occupancy and begin growing flower," said Grown Rogue CEO Obie Strickler in a statement. "By stepping into the lease of an existing facility and planning for modest upgrades, we believe that we cut the cost and time to market by more than 60% compared to one of our new-build projects, to less than $4 million and under 9 months, respectively, assuming normal timelines for regulatory approvals."
