Family Office Invests $35M In New England Cannabis Venture: What To Know About Big Plan Holdings And Silver Therapeutics

Big Plan Holdings (BPH), a Nashville-based family holding company, is set to amplify its presence in the cannabis industry through a strategic partnership with New England cannabis cultivation and dispensary business Silver Therapeutics.

The synergy between the two firms involves BPH supervising the purchase of cannabis commercial real estate in New England. This covers prime markets in Maine, Massachusetts and Vermont, but with an ambition to extend their influence nationwide, especially in the Northeast. The collaboration entails a significant financial commitment from BPH, as it will acquire a shared ownership in operations and properties across these states, with investments nearing $35 million.

Reflecting on BPH's journey and the new venture, founder and co-CEO Josh Joseph said, “We at Big Plan Holdings began our journey after the landmark sale in U.S. cannabis history with Curaleaf. For our family, that was just the initial phase. Now, we're eager to broaden our horizons across Vermont, Maine, and Massachusetts, leveraging our deep knowledge in the cannabis and commercial real estate sectors.”

With over half a million transactions under its belt, Silver Therapeutics is gearing up to inaugurate its Boston-based cultivation, processing, and dispensary facility between Q4 2023 and Q1 2024. Expansion ambitions don't stop there; the company is also also eyeing licenses in New York and New Jersey.

Josh Silver, the driving force behind Silver Therapeutics, expressed his enthusiasm about the collaboration and the new additions to the company's board. “The inclusion of Josh Joseph and Michael Mook from Big Plan Holdings to our board is a monumental step. Their vast experience and success stories will greatly enrich our strategic roadmap, propelling us further in cannabis industry innovation,” he said.

The cannabis landscape in New England is witnessing rapid evolution. As of 2023, cannabis use is legal across all six states in the region. Furthermore, each of these states has a medical marijuana program. Highlighting the booming market, data from the Marijuana Policy Project revealed that in Massachusetts alone, sales revenue reached an astounding $3 billion annually, a figure expected to rise consistently.

Michael Mook, associated with both Next Titan Capital and Big Plan Holdings, shared his perspective on the new partnership: “We're excited to enhance Silver Therapeutics' growth trajectory. This alliance represents a significant stride in Big Plan Holdings' investment and expansion endeavors, marking the inception of what we anticipate will be a fruitful and enduring collaboration with Josh Silver and the entire Silver Therapeutics team."

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.