Flowertown and CohnReznick Team Together to Provide Extensive Business and Marketing Services and Consumer Education to the Maturing Cannabis Industry
Los Angeles, CA – June 18, 2019 – Flowertown, a rapidly growing cannabis media and marketing brand, and CohnReznick LLP, one of the largest accounting and consulting firms in the country, announced today that they will be teaming to deliver a comprehensive suite of services to the cannabis industry. The strategic relationship is in response to an opportunity in the burgeoning cannabis marketplace. The goal is to work together to provide comprehensive professional resources for industry participants looking for strategic growth and the delivery of compliance services. Additionally, the two intend to accelerate reliable consumer education.
As the cannabis marketplace enters the next phase of growth and grapples with increased competition and consolidation, business owners and investors need more sophisticated solutions, resources and advisors. Flowertown and CohnReznick will provide these organizations with a wide-ranging suite of services that supports their growth, enhances their operating effectiveness and supports normalization. Solutions tailored for the cannabis industry include consumer education, brand building, product and retail recommendations through storytelling, data analytics, financial and operational strategies, technology implementation, and tax planning and compliance. These services will include national, regional and state by state campaigns as well as events designed to build trust and safety through new-consumer education.
“We are always looking to bring other trusted advisors to the table for our clients in this ever-changing and developing industry,” said Dean Waters, CEO of Flowertown. “CohnReznick brings a tremendous amount of professional experience and technical expertise in the cannabis space. Our marketing sensibilities combined with their proven track record with both established and emerging industries creates a suite of services that will be paramount as cannabis brands and retailers break into the mainstream marketplace.”
Ira Weinstein, Cannabis Industry Leader for CohnReznick added, “We have been serving the cannabis industry for over two years and see the challenges companies are experiencing when it comes to synthesizing finance, tax and accounting issues in support of sophisticated marketing and building a brand. Flowertown’s commitment to consumer education and normalization aligns perfectly with CohnReznick’s commitment to professionalism and corporate responsibility in this space. We believe our collaboration with Flowertown brings a new level of sophisticated professional solutions that will help push this industry forward.”
InsightHow Banking Challenges Impede the Growth of the Cannabis Industry TodayMaier N. RosenbergWith recreational cannabis now legal in Canada and many U.S. states, 2019 seems poised to become a turning point for the industry. However, within U.S. borders, one thing still limits growth: Cannabis companies’ lack of access to banking and financial services.
InsightThe SAFE Banking Act Would Be a Giant Leap for Legal CannabisMaier N. RosenbergThe Secure and Fair Enforcement (SAFE) Banking Act, which, in March, passed the U.S. House Committee on Financial Services by a significant bipartisan margin, represents a promising step forward for banks and cannabis companies that want to take sales out of the cash-based market and into the mainstream.
Insight5 key factors to consider before making a cannabis acquisitionBeau Whitney & Andrew LinesWith talk of a looming recession, many analysts predict that during a downturn there will be a short list of growth industries that can deliver a healthy return on investment. Cannabis is near the top of that list. In fact, spending on legal cannabis in the U.S. is expected to increase from the current $12.9 billion to $20.4 billion in 2022, according to New Frontier Data.
Insight6 ways cannabis companies can maximize their sale priceBeau Whitney & Andrew LinesConsolidation is a natural phase of any industry lifecycle, and cannabis is no different. As legal cannabis continues its rapid growth, the market is beginning a new phase of consolidation.