MariMed, a multi-state cannabis operator, today announced it has begun manufacturing and processing cannabis products in its new processing kitchen in Mt. Vernon, Illinois. After lengthy construction and regulatory delays, the company expects that its products will be available at dispensaries in Illinois in time for the holidays. These include MariMed’s five Thrive Dispensary-branded retail locations in the state.
The processing facility contains an extraction lab to produce concentrates, and a production kitchen for the manufacture of edibles and other derivative products. The cultivation facility is currently under construction in the same facility and is expected to be completed in 2024.
“Being vertical in Illinois will improve our retail gross margins and allow us to wholesale our branded products to other dispensaries,” added Ryan Crandall, Chief Revenue Officer of MariMed. “Our wholesale operations are already ramping and have secured early purchase commitments from retailers throughout the state. The opening of the processing facility, in addition to the opening of our cultivation facility in 2024, are important steps in the execution of MariMed’s strategic growth plan.”
MariMed intends to manufacture and distribute its proprietary brands and products throughout Illinois. That includes its Betty’s Eddies fruit chews, which was the top-selling edible in Illinois until 2020 through a third-party licensing agreement, Bubby’s Baked soft and chewy baked edibles, Vibations hydrating drink mix, InHouse gummies, K Fusion chewable tablets, and more. Upon completion of the cultivation facility construction the company plans to commence selling its Nature’s Heritage flower through retail and wholesale channels.
MariMed operates five Thrive™ Dispensary locations in Anna, Casey, Harrisburg, Metropolis, and Mt. Vernon, Illinois.