Hashish trade veteran Joe Hodas is wrapping up his final week as president of Colorado-headquartered infused merchandise firm Wana Manufacturers.
Hodas, who has led the Boulder-based firm since founder Nancy Whiteman departed almost a yr in the past, introduced his departure in a LinkedIn put up on Tuesday, noting the transfer is a “fairly regular cycle of acquisition, value reducing and consolidation.”
He was referencing Wana Manufacturers’ 2021 acquisition by Canada’s Cover Progress Corp. in a transaction that, on the time, was valued at $297.5 million. Wana stated in 2024 the deal’s worth had elevated to $350 million.
That transaction was finalized final October when Cover’s American-based holding firm, Cover USA, stated it had taken a 100% stake in Wana and its properties.
What’s subsequent for Hodas and Wana?
Hodas, who joined Wana in 2020 as chief advertising officer, stated he’s not sure about his subsequent profession transfer.
As for his successor, a Cover USA spokesperson advised MJBizDaily that an announcement can be forthcoming.
Wana was based in 2010 as a hashish edibles firm, and it later entered the hemp-derived THC market.
In March, Wana landed a deal for Whole Wine & Extra to hold its hemp-derived THC drinks in 9 states.
Hodas, who joined Wana after stints with marijuana inhaler firm Gofire and edibles pioneer Dixie Elixirs, each primarily based in Denver, stated he’s trying ahead to spending time together with his household, on his bike and within the mountains.
In his farewell put up, he stated he’s “nostalgic” and “wistful” for the early days of regulated marijuana.
He additionally famous that his time at Wana was a interval of his biggest skilled and private progress.
Whiteman provided ‘alternative of a lifetime’
“A goodbye put up wouldn’t be full with out a farewell to my superb Wana workforce,” Hodas wrote.
“I can not put into phrases my appreciation and gratitude for Nancy Whiteman.
“She afforded me the chance of a lifetime and altered my trajectory in basic methods.
“The one manner I understand how to provide again to her is for her to know that I’ll carry her legacy of management, neighborhood, help, generosity and kindness with me regardless of the place I am going personally or professionally.”
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