Cannabis industry's leading hiring platform Vangst has acquired CannabizTemp, the temporary staffing division of CannabizTeam.
What Happened
The company said on Friday the acquisition was 50% cash and 50% stock and is the first acquisition in the cannabis human resources (HR) space.
The integration of CannabizTemp customers into Vangst will commence immediately.
Why It Matters
The acquisition of CannabizTemp brings Vangst's total customer count to over 1,700, and Vangst now services 90% of all US multi-state cannabis operators.
Vangst said the deal is "not merely a transaction but a strategic alliance designed to leverage the unique strengths of both entities, promoting substantial growth and driving positive change within the cannabis industry."
The growing trend in hiring will surely be one of the topics at the upcoming Benzinga Cannabis Capital Conference on April 16 and 17, 2024.
Meanwhile, founded by internationally acclaimed executive recruiter Liesl Bernard, CannabizTeam, an executive search firm CannabizTeam has an exclusive focus on the cannabis industry.
"CannabizTemp was hands down our largest competitor," Karson Humiston, Vangst founder and CEO, said. "Liesl and her team built a phenomenal business with a strong and growing customer base, and we couldn't be more excited to welcome the CannabizTemp customers into the Vangst Family."
Bernard, who serves as CEO at CannabizTeam shared Humiston's enthusiasm.
"This marks a pivotal moment for both Vangst and CannabizTeam. It enables us to concentrate on our respective areas of expertise, setting a new industry standard for specialization, providing a comprehensive talent solution to the industry," she said.
What's Next
CannabizTeam will continue operating their executive search business and placing executives into the cannabis industry. As a part of the transaction, Vangst customers will now have access to the Cannabiz Executive Recruiters to support their executive hiring needs.
Vangst launched Vangst GIGS, an on-demand hiring platform, in 2018 to address the cannabis industry’s variable labor and hiring needs. Since launching Vangst GIGS in 2018, Vangst has filled over 200,000 cannabis GIGS across 19 States.
Now read: Hiring Surge Predicted In Cannabis Sector: Top 5 High-Paying Industry Roles In 2024
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!
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The Benzinga Cannabis Capital Conference is coming to Florida
The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.
Get your tickets now on bzcannabis.com – Prices will increase very soon!