A recent Florida Supreme Court decision plays into the hands of established medical marijuana multistate operators in the state, although it also could spur additional licenses, investment by others and acquisition activity.
What remains to be seen is to what extent the currently concentrated, billion-dollar industry will become more competitive over time.
The state Supreme Court last month left the state’s limited-license, vertically integrated structure intact, saying that a constitutional challenge was unlikely to succeed.
“The Supreme Court decision will provide some sense of security for those seeking to invest in the Florida market either through acquisitions of existing licenses or those offering debt,” Sally Peebles, a partner with Vicente Sederberg’s Florida office, wrote in an email to MJBizDaily.
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