Cannabis Industry In Connecticut: It’s Thriving With Recent Acquisitions And Expansion

HARTFORD, CT — The cannabis industry continues to expand in Connecticut, with one company acquiring three established dispensaries spread around the state and another with ties to Mike Tyson opening a facility in Hartford.

Budr Cannabis, which has five locations in the region — West Hartford, Tolland, Danbury and Stratford in Connecticut and in Yonkers, NY — has announced the acquisition of three well-established cannabis dispensaries in Connecticut: The Botanist of Danbury, The Botanist of Montville and The Botanist of Vernon.

The new signs were up at the three locations this week.

The acquisition, supported by strategic partner Poseidon Investment Management, LLC, will “bring these three dispensaries into Budr’s growing network, further strengthening its presence in Connecticut’s thriving cannabis marketplace,” company officials said. “This expansion will enhance access to high-quality products and reinforce Budr’s dedication to cannabis education, customer service, and industry leadership.”

Added Budr Carl Tirella Jr. “This venture reflects our ongoing dedication to growth while maintaining the highest standards of service and community involvement. “By integrating these dispensaries with an experienced operator, Budr will not only expand its reach but also ensure that Connecticut residents continue to have access to safe, reliable, and responsibly sourced cannabis products.”

Tirella said as Budr expands, the company remains focused on providing a “seamless” transition for both employees and customers. The newly acquired locations will adopt Budr’s “signature approach” of “prioritizing education, product transparency, and personalized service,” he said.

“We are excited to be partnering with the Budr team and supporting their growth with the acquisition of these stores in Connecticut,” said Emily Paxhia, the co-founder and managing director of Poseidon Investment Management. “This transaction represents our commitment to backing exceptional operators who share our vision for the cannabis industry’s responsible growth.”

Budr will continue partnering with regional vendors, hiring “local talent,” and offering job training to support careers in the cannabis industry.

“Budr also upholds its mission to advance social equity by creating opportunities for those disproportionately affected by past cannabis policies,” officials said. “Budr’s expansion aligns with its long-term vision of growing responsibly while setting a new standard for adult-use cannabis retail. With a focus on innovation, accessibility, and consumer education, Budr continues to lead the way in shaping the future of Connecticut’s cannabis industry.”

Meanwhile, The Goods THC, a minority woman-owned and family-led cannabis cultivation company, has officially completed development of its 32,000-square-foot micro-cultivation facility at 275–287 Homestead Avenue in Hartford’s Upper Albany neighborhood.

The company anticipates its first product launch in late July or early August 2025.

The facility features 10,000 square feet of dedicated grow space spread across seven state-of-the-art, climate-controlled flowering rooms — the maximum canopy permitted under Connecticut’s micro-cultivation license. Located in the historic Hartford Specialty Machinery Co. building, the 80,790-square-foot industrial site was acquired in December 2022 by Eros I LLC for $1.7 million.

Said company officials, “The acquisition was driven by a clear mission: to establish a world-class cannabis cultivation operation in a community historically impacted by decades of punitive drug enforcement.”

The Goods THC is one of the first Social Equity applicants licensed by the Connecticut Social Equity Council and has received full cultivation permitting from the Department of Consumer Protection.
The company is led by Gloribel Diaz, a Hartford native and “longtime advocate for justice and equity.”

“This isn’t just a cannabis business, it’s a homegrown movement,” Diaz said. “We chose to build in Hartford because this is our community. We’re creating opportunities for local residents, launching premium products, and working with nationally recognized brands, all while staying true to the purpose of cannabis reform: justice and reinvestment.”

The Goods THC holds exclusive cultivation rights in Connecticut for two nationally recognized brands: “Cookies” and Mike Tyson’s “Tyson 2.0.” The company is also in advanced negotiations with two additional nationally recognized brands, officials said.

Simultaneously, The Goods is cultivating its own proprietary line called The Goodsfeaturing distinct, in-house strains explicitly tailored for the Connecticut market, officials said.

The facility will employ 20–to-30 Hartford-area residents, with a focus on hiring from Social Equity backgrounds through a formal workforce development program.