Transforming the humble gummie into a cannabis juggernaut, Wana Brands’ substantial decade of retail growth and innovative milestones recognized by multiple industry honors – Cannabis Business Executive


PRESS RELEASE

North America’s largest infused products brand holds leading positions in largest legal cannabis markets, including Illinois, Ohio and Michigan 

Boulder, Colo. (November 18, 2020)—Pioneering cannabis-infused producer Wana Brands continues to build on 10 years of exponential retail growth, innovating the market with new products and technologies and positioning the brand as North America’s largest cannabis edibles manufacturer. Wana’s astronomical decade of sustained and consistent growth and achievements are illustrated by the Boulder edible company’s designation as a BizWest Mercury 100 and Colorado Company to Watch within weeks of each other this quarter. And while these recent honors are based on 2019 revenue numbers, Wana’s consolidated revenue is up 38% over the past six months of 2020, even in the midst of a global pandemic.

“As we celebrate our 10th anniversary, we look at our past success and focus even more on our future goals supported by consistent leadership, innovation and growth,” said Nancy Whiteman, CEO, Wana Brands. “Recognition from Bizwest and Colorado Companies to Watch emphasize the hard bottom-line numbers that have positioned Wana as the No. 1 cannabis edibles brand in North America, both in innovation and geographic footprint. Balanced growth backed up by operational expertise and a passionate and committed team has been Wana’s key to long term success and profitability.”

Wana ranked No. 6 on BizWest’s Mercury 100 Fastest-Growing Private Companies–Flight 1. As aColorado Company to Watch, Wana was selected from a field of more than one thousand nominations. These industry honors are the latest in a list of 2020 accolades that include Wana’s third consecutive ranking on the Inc. 5000 list, this year at No. 2,074. All three honors are based on revenue numbers, with Wana boasting an EBITA CAGR of 35.9% and affiliated IP company CIMA posting 128.88% CAGR since 2017.

These accomplishments come at a time when Wana Brands has pivoted quickly to address increased product demand during the COVID-19 pandemic. And they transpired in a year in which the company–deemed an essential business during a time when many others were forced to close–was putting into place social-distancing initiatives needed to protect the health of its employees and customers.

Projecting retail sales of close to $120 million in 2020, Wana also boasts the largest edibles footprint in North America. This year the brand expanded domestically in Maryland, Missouri and Oklahoma, and internationally in Canada. Already ranking No. 1 in Ontario just a month after its Canadian launch, Wana also holds leading positions in Colorado, Illinois, Ohio, Michigan and Maryland, according to partner industry sales data.  Wana will enter Massachusetts, Florida and Missouri in the next six months. In the C-Suite, cannabis-marketing leader Joe Hodas joined as the company’s Chief Marketing Officer in March to support further national brand development. Hodas previously worked with Dixie Brands, General Cannabis and Gofire.

“We have honed a strategy of selecting great partners, and we commit significant resources to onboarding and supporting them. We also have a methodology behind selecting markets that allows us to maximize potential. That has resulted in enormous success for our expansion program,” Whiteman continued.

Wana Brands continues to innovate the landscape of the infused-edibles market in 2020, most notably with the release of its fast-onset product line. Wana Quick provides a novel edible experience, with an onset of 5-15 mins and Delta-9-THC effects (similar to an inhalation effect rather than an edible effect) lasting up to three hours. Wana Quick Gummies now hold three of the top 11 Colorado SKUs (#4, #7 and #11), with Wana’s original gummie recipe filling an additional five spots, according to BDSA data. Wana has committed a decade to refining its premium recipes, including proprietary terpene blends utilizing over three dozen terpenes and top-quality oils. Wana’s recipe features vegan, organically sourced ingredients that are non-GMO and free of high fructose corn syrup.

“Wana is committed to the plant and to the industry. That means we prioritize innovation that leads to better products for consumers. It also means that we give generously of our time and resources to participating in industry initiatives and building relationships that help move the industry forward,” Whiteman said.

This commitment to the industry has been recognized by countless awards, including:

  • MJBizDaily Award: Best Infused Products (2019)
  • MJBizDaily Award: Industry Impact Award (2019)
  • BizWest’s Mercury 100 Fastest-Growing Private Companies–Flight 1 (2020)
  • Colorado Company to Watch (2020)
  • Inc. 5000, No. 2,074 (2020)
  • Bizwest 2020 Women of Distinction finalist: Nancy Whiteman (2020)
  • Green Entrepreneur’s Top 100 Cannabis Businesses (2019)
  • Denver Business Journal’s Fast 50 Companies List (2019)

For more information or to schedule an interview with Whiteman, please contact Shawna Seldon McGregor at 917-971-7852 or[email protected].

Wana Brands: Enhance Your Life.

Included in the 2020 Inc. 5000 list at #2,074 and boasting a three-year growth rate of 203%, Wana Brands is the No. 1 edibles brand in the United States, with more dollars sold than any other brand, according to BDS Analytics 2019 Brand Share Report. Wana leads the industry in quality, consistency and potency, providing a range of different options that enable customers to create the specific cannabis experience they want. Wana products offer diverse product forms including edibles, vapes, and extended-release capsules, four different CBD/THC ratios as well as a variety of different dosages, onset times and duration of effects. The portfolio is designed so products can be used singly or in combination to address specific health, wellness, and recreational needs. Wana products are available in Colorado, California, Illinois, Michigan, Ohio, Maryland, Arizona, Oregon and Oklahoma dispensaries, with Massachusetts, Missouri and Florida among the states imminently coming online. Wana Brands is available internationally in Canada. For more information or to subscribe to Wana’s e-newsletter, visit www.wanabrands.com. Follow Wana on LinkedIn, Twitter, YouTube and Pinterest.

 

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Shawna Seldon McGregor

917-971-7852

[email protected]

 





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