B2B marketplace LeafLink has made an acquisition, taking in Leaf Trade, a wholesale platform serving multi-state operators (MSOs) and enterprise cannabis companies.
New York-based LeafLink was founded in 2016. The companies did not disclose terms of the deal.
LeafLink currently connects approximately 8,400 marijuana retailers with 3,700 cannabis brands and distributors. It says it serves 50% of the U.S. wholesale cannabis industry across 30 markets. The combined LeafLink and Leaf Trade enterprise is expected to generate an annual gross merchandise volume (GMV) of $9 billion.
LeafLink acquisition
Leaf Trade specializes in facilitating ordering and fulfillment in the regulated cannabis market. In March 2023, the company merged with Sweed, a retail operating platform. Together, Leaf Trade and Sweed generated an annual GMV of $3 billion.
“Leaf Trade has been a leader in the MSO and enterprise segment,” LeafLink CEO Artie Minson said. “We look forward to collaborating with our new customers to provide integrated technology solutions aimed at improving operational efficiency and financial performance.”
“Through our strategic partnership with LeafLink, Sweed will continue to offer tools that support customer growth and streamline operations,” Leaf Trade CEO Brian Ward added.
LeafLink has not yet shared detailed plans for integrating operations. However, it confirmed that both platforms will continue functioning independently during the transition. The company projects the U.S. cannabis market will reach $55 billion in annual sales by 2030, with an annual growth rate of 11%.
“With this acquisition, LeafLink aims to support the full spectrum of cannabis businesses, from small retailers to large MSOs, through enhanced marketplace offerings and tools,” the company stated.
Sign up
Sign up for a complimentary subscription to Digital Commerce 360 B2B News, published 4x/week. It covers technology and business trends in the growing B2B ecommerce industry. Contact Mark Brohan, senior vice president of B2B and Market Research, at mark@digitalcommerce360.com. Follow him on Twitter @markbrohan. Follow us on LinkedIn, X (formerly Twitter), Facebook and YouTube.
Favorite