California-based cannabis company Henry’s Original (Henry’s) closed on a Series B investment led by New York-based private equity firm Merida Capital Partners. Henry’s said it plans on using the money to expand its cultivation, processing, sales and marketing operations.
“As a company that represents the legacy of Mendocino County family-farmers and original rebels in the cannabis revolution, we are excited to partner with some of the most strategic, thoughtful visionaries in the space,” said Henry’s Chief Executive Officer Jamie Warm. “Merida’s diverse team of experts understand and are extremely supportive of our vision to scale our hand-crafted consumer packaged goods with a regional identity in California as well as new markets around the country.”
Henry’s has created a reputation for Clean Green-certified flower and pre-roll products that are cultivated entirely in Mendocino County, California. The company stated that it holds thirteen state licenses including a nursery, cultivation, processing, distribution and a retail dispensary license. The company said it has more than 100,000 square feet of cultivation in California.
“As one of the leading pre-roll and pre-packaged flower companies in California in overall sales, this investment positions us to scale our operations, continue to shore up the supply chain and drive growth,” said Henry’s President and COO Joshua Keats.
“Henry’s is well-positioned to gain significant market share in California, the biggest market in the country and the world, and Merida sees the potential to elevate the company as it crosses the fragmentation gap geographically in and outside of the Golden State,” said Mina Mishrikey, partner at Merida. “With a powerful legacy, brand identity and farm-direct, sun-grown, Clean Green Certified products, Henry’s is a perfect fit for our portfolio. We look forward to adding value to the company as it expands its operations and working closely with Jamie, Josh, and their team.”
This investment round also included investments from Big Rock Partners, Delta Emerald Ventures and funds managed by JW Asset Management. The majority of Series A investors also invested in this round as well.