LEADING UK business Prohibition Holdings – parent company of global data and canna-tech firm Prohibition Partners – has acquired North American media platform Business of Cannabis in a share-based transaction creating the biggest global cannabis B2B group.
This comes as London-based Prohibition Holdings has launched its Series B funding round. Toronto-based Business of Cannabis is one of the leading North American media platforms delivering definitive news, analysis and data for the cannabis industry.
It was co-founded in 2017 by Jay Rosenthal who will remain as Managing Director whilst also taking on the role of VP, North America for Prohibition Partners. Fellow co-founder Blaine Pearson will stay on as an advisor to the company.
Best In Class Data, Analysis And Events
Stephen Murphy, Co-Founder and CEO of Prohibition Partners, said: “We have long admired the commitment and innovation Blaine, Jay and the team have applied to expertly covering this emerging industry.
“So we are naturally delighted to be adding Business of Cannabis to our portfolio and in doing so we look forward to providing the North American industry with greater access to best in class data, analysis and events.”
Mr Rosenthal said: “From our home-base in Toronto, our vision has always been to highlight the companies, brands, people and trends driving the cannabis sector.
“By joining Prohibition Partners we are now uniquely positioned to thrive in new and emerging markets across all of North America, especially markets like New York, Florida and the Midwest.”
Prohibition Holdings says the 100% acquisition of Business of Cannabis will enhance its position as industry leader in media and data as well as delivering the largest B2B audience in cannabis.
Mr Murphy added: “The acquisition will supercharge Business of Cannabis’ ability to offer premium content, experiences and analysis to its North American audience.”
Both the Business of Cannabis and Prohibition Partners teams are presently working on the first cannabis conference in New York since legalisation.
‘Business of Cannabis: New York’ has been designed for industry leaders and will take place at the iconic Rainbow Room in Rockefeller Center on September 29, 2021.
Prohibition Partners has invested heavily in its market intelligence platform Atalis that provides investors, executives and operators access to the latest global market data, intelligence and analysis. Atalis is currently in Beta with a full launch expected later this year, but has already attracted interest from global data providers including Bloomberg and IBM.
Prohibition Partners is a leader in emerging markets – including Europe, Asia and LATAM – and following this acquisition, it now offers a global solution for the cannabis industry.