New Frontier Data COO: Cannabis Companies Need 'Real Reasons' For Mergers
Acronyms like THC and CBD aren't enough to create a brand, New Frontier Data COO Gary Allen said Tuesday at the Benzinga Cannabis Capital Conference in Chicago.
Brands must go further in their marketing and brand development, he said in a keynote.
"We have to do some things in this industry, just like every other mature market. We have to bank. We have to standardize," Allen said.
New Frontier is one of many brands at the conference in the midst of significant M&A activity, the COO said.
The cannabis data company announced the acquisition of Zefyr Oct. 9 and the acquisition of Civilized one day later.
More brands are likely to merge as legalization continues, Allen said — but they shouldn't unless there's a viable reason to do so.
"We have to have real reasons for our companies to come together, operate together … with an agency, and then obviously succeed."
Photo by Asa Barron Photography.
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