A convenience store is a small retail store where customers look for a convenient option to buy gas, essential items, food products, cigarettes or beverages. However, Floridians will be able to buy another item in this retail segment. As Bloomberg reported, Green Thumb Industries Inc, a major cannabis player, will offer weed to Circle K, a Canadian convenience-store chain and gas station operator, at its gasoline retailers in the Sunshine state.
Green Thumb said that the partnership will begin in 2023 with 10 of the company’s 600 locations in the state.
The Agreement
According to Bloomberg, the agreement will “continue to normalize” marijuana by integrating it with regular consumer products,” Green Thumb Chief Executive Officer Ben Kovler said in an interview. “This is a futuristic deal.”
Financial terms between the two partners weren’t disclosed. Under the agreement, Green Thumb will lease space from Circle K locations and sell the marijuana.
RISE Express
Called RISE Express, this new marijuana retail and Circle K will be in the same place. However, due to regulations, the Rise Express will have its own entrance, security etc.
The rollout of the pilot will begin with 10 locations. Circle K has 600 locations in the state.
Legislation
Recreational marijuana use is still illegal in Florida. However, cannabis can be legally sold for medical use. Purchases are restricted to Floridians who have medical marijuana cards. Currently, that’s around 700,000 people.Florida is still the second-largest US market for marijuana, following California.
Expanding to other states
The partnership between Green Thumb and Circle K can be expanded to other states, according to Ben Kovler.
“The opening of RISE Express stores at Circle K locations is a game-changer. Convenience is a strong channel in retail, and people want more access to cannabis,” Kovler said in a statement.
“The new RISE Express model is a huge step forward in making it easier and more efficient for patients to purchase high-quality cannabis as part of their everyday routine when stopping by their local convenience store,” he added.
