For the Love of Flower, get to Know MSO C3 Industries, Inc.

The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

C3 Industries (C3) is a premier, vertically integrated cannabis company in select markets that delivers high-quality products with strong brand recognition. 

From its deep roots in Ann Arbor, Michigan, and Portland, Oregon, to its growing presence in Massachusetts and Missouri, C3 is strategically positioned to be a leading national cannabis player and provider of top-tier flower and concentrates.

“This year will be another pivotal one for C3 Industries with significant expansion underway in each of the four states we operate in. We’re excited to bring our products, brands and retail customer experience to Massachusetts and Missouri this year and to continue to expand our presence in Michigan and Oregon,” said Ankur Rungta, CEO of C3 Industries. “With a team of over 200 employees in place, growing to 450 by the end of the year, we are poised for explosive growth in 2021, developing a platform that we expect to scale even further in 2022 as we look to enter additional markets.”

Oregon Roots 

C3 sowed seeds in Oregon that lead to its inception in 2016, and it’s been blooming ever since. The flower-focused company offers a variety of strains with an array of catchy names like Ghost Dawg, Wookie Girl ‘91, 99 Problems and Chem de la Chem.

On top of achieving deep market penetration for its product brand Cloud Cover as well as its retail brand High Profile, the company’s Portland-based 40,000 square foot cultivation and manufacturing center has earned the largest energy efficiency financial incentives of any cannabis facility to date from the Energy Trust of Oregon.

Moving to Michigan

Although the company began in Oregon, two of the three founders, Ankur and Vishal Rungta, are alums of the University of Michigan in Ann Arbor. So it should come as no surprise that the team made moves into the Michigan market in 2019.

C3 began its expansion by opening a dispensary in Detroit under its brand, High Profile. Today, the company has 5 operating retail locations in Michigan, with an additional 7 locations slated to open in 2021. C3 also operates a second 40,000 square foot cultivation and manufacturing facility in Michigan and has further developed its brand by expanding into edibles, vaporizers and concentrates, in addition to its premium flower.

C3 is further developing its footprint in Michigan with a state-of-the-art 90,000 square foot expansion to its existing cultivation and processing facility in Webberville. This will quadruple the company’s Michigan flower production and generate over $25 million of additional revenue per year.

The company is confident that it has built a strong platform for continued growth and is capitalizing on the success in Oregon and Michigan to replicate a nearly identical facility in Massachusetts and soon Missouri.

Flowering in Massachusetts and Missouri 

The multistate operator (MSO) currently has 250,000 square feet of cultivation and processing facilities as well as over 20 retail licenses — and counting — in active operations or development across the 4 states. C3 was one of the only groups granted the maximum 5 retail licenses in Missouri, and is launching retail operations next month and production operations later in 2021. 

In Massachusetts, C3 is almost complete with the construction of a 37,000 square foot cultivation and processing facility in Franklin and is working toward opening multiple stores in the Boston area during the summer and fall of 2021. 

On top of its reputation for high-quality products, C3 has an excellent track record with its facilities, reporting zero operational or compliance failures to date. 

Meet the C3 Family

C3 seeks to cover all of its bases with extensive expertise in everything from cannabis retail to cultivation, to corporate finance and real estate development.

Ankur Rungta has a diverse background working in law, investment banking, media and cannabis. President and CFO Vishal Rungta has worked in banking, private equity, technology and cannabis and adds his finance and business strategy experience to the team. 

Chief Horticulture Officer Joel Ruggiero managed a 50,000 square foot cultivation facility and was an award-winning Head of Cultivation at The Green Solution in CO prior to co-founding C3. And COO Samip Shah is the former CEO of Clear Medical Imaging and brings a wealth of middle-market executive and operational experience to the C3 team. 

The C3 team initially began as the two Rungta brothers and their childhood friend, Ruggiero, grew up together in Buffalo, New York, with a shared passion for cannabis. Their history together no doubt contributes to the company’s success in producing quality flower, consistent growth in revenue and a sturdy platform for expansion into new markets. 

Check out the company’s sleek and navigable websites and stay up to date with C3’s news at www.c3industries.com, www.cloudcovercannabis.com, www.highprofilecannabis.com. 

The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.