Employee-owned and Massachusetts-based Theory Wellness opened the world’s first-ever beverage dispensary on Sunday, January 21st in Medford Massachusetts. The beverage store is located alongside the company’s new flagship store in the same building complex. The THC-infused beverage outlet will feature the largest selection of cannabis beverages at wholesale prices.
“We had a truly exciting end to the year, both with our transition to becoming employee-owned, and now with the opening of our flagship store and beverage outlet in Medford,” shared Brandon Pollock, co-founder, and CEO. “It’s been a rewarding journey, and our team has done an incredible job getting us here.”
The cannabis beverage market splits into two categories those made with legal hemp CBD, which can be purchased anywhere, even online with little oversight, and those made with regulated cannabis THC that must be purchased in a licensed dispensary. Both tend to be expensive with four cans often costing as much as $20-$25. THC-infused beverages are a small but growing category with sales jumping during holiday times as well as Cali-sober January.
The new store opening comes just weeks after the company announced that it has transitioned 100% ownership to its staff, making Theory the first employee-owned cannabis company in the Commonwealth and the largest in the country. Their new store in Medford will become Boston’s first employee-owned dispensary.
In addition to the dispensary, Theory has also donated nearly 10,000 square feet of space adjacent to its dispensary to the
Arts Collaborative Medford. The company said in a statement that the community-based non-profit had been seeking a space for nearly a decade before Theory offered to donate part of its building and construct a brand-new arts center.
“We are excited to be able to offer this space and support the local artist community,” says Nick Friedman, Theory’s co-founder, and CSO.