Cannabis wholesale platform LeafLink has acquired Leaf Trade, a wholesale marketplace used by multistate operators and enterprise marijuana businesses.
The combined companies are expected to facilitate nearly $9 billion in wholesale gross merchandise value annually, according to a Tuesday news release.
Terms of the transaction were not disclosed.
Brian Ward, CEO of Chicago-based Leaf Trade, said that retail operating platform Sweed – which Leaf Trade merged with in 2023 – will remain an independent business.
LeafLink said the deal enables the New York-headquartered company to support cannabis businesses ranging from small brands and retailers to MSOs.
The LeafLink and Leaf Trade platforms will operate as they now do while their systems are integrated, the release noted.
“Our mission at LeafLink is to help the regulated cannabis industry reach its greatest potential,” Artie Minson, LeafLink’s president and CEO, said in a statement.
“We’re doing this by providing products and implementing standards that significantly streamline operational processes and meaningfully improve financial performance.”
In September, for example, LeafLink launched its Payment on Sell Through (PoST) system, which is designed to ensure cannabis producers receive automated weekly payments based on the previous week’s retail sales.
That launch came two months after LeafLink acquired Dama Financial’s cannabis banking division.
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