LEEF Brands, a California and New York extraction company has officially closed on the acquisition of a Type 1 Cannabis Processor License in New York. This is a plant-touching license that allows the company to engage in extraction, blending, and infusion, as well as packaging, labeling, and branding its products.
The deal positions LEEF Brands as a multi-state operator (MSO) and marks the first phase of its expansion outside of California.
LEEF plans to replicate its California operations, tailored to meet the demands of the New York market. New York has grown from a $160 million cannabis retail market in 2023 to $1 billion in 2024, with projections of $1.5 billion in retail sales in 2025. With concentrates used in approximately 55% of cannabis products sold in New York, this license presents a significant opportunity for LEEF to leverage its extraction capabilities and support the brands driving growth in the region.
“This marks a major step in our expansion beyond California,” said Micah Anderson, CEO of LEEF Brands. “Securing a Type 1 Cannabis Processor License in New York gives us a gateway into one of the most exciting cannabis markets in the country, and we’re eager to bring our expertise and build partnerships in the region. Our goal is to replicate our business model in California and leverage the long-standing client relationships we’ve built with many of the brands that are already performing well in the New York market.”
