Marijuana Business Magazine - May-June 2018

A s more countries legalize medical and recreational cannabis, entrepreneurs are seizing the opportu- nity to become pioneers in the marijuana busi- ness. From South America to Europe, India and Israel, companies are popping up to tackle cultivation and research, while others launch retail sales and ancillary businesses. Some companies with an established record in other industries are making the transition to cannabis. Swedish firm Alfred Pedersen & Son, a success story in traditional agriculture, is partnering with Aurora Cannabis of Canada to create a production facility in Denmark that is likely to control a notable share of the MMJ market in Northern Europe. Bombay Hemp Co. was founded in 2013 to produce textiles, but its marijuana-research side business carries the potentially lucrative first-mover advantage: Should India legalize medical marijuana, Bombay Hemp Co. already is operating in the world’s second-most-populous country and has established connections with suppliers. Other firms, such as Tikun Olam of Israel, aren’t content to stay in one place. With business interests in Australia, Europe and North America, Tikun Olam is a truly interna- tional corporation operating in the medical cannabis space. The following are just some of the companies worth watching as the global cannabis market expands in the years ahead. Global Players Worth Watching Company: Alef Biotechnology Line of Business: MMJ cultivation, research and exports Headquarters: Santiago, Chile Why toWatch: In 2017, Alef Biotech- nology established a partnership to market and distribute the products of Canadian medical marijuana producer Tilray in Chile and Brazil. The Chilean government has authorized Alef Biotechnol- ogy to produce cannabis, and the company is building a pro- duction plant and a research and development center. Tilray’s agreement with Chile calls for its MMJ products initially to be sold through pharmacies in the capital, Santiago. Chile’s law allows patients to buy medical marijuana with a doctor’s recommendation, and there are some 88,000 potential medical marijuana patients in the country. Company: Alfred Pedersen & Son Line of Business: MMJ cultivation Headquarters: Trelleborg, Sweden Why to Watch: Alfred Pedersen & Son is a longtime producer of fruit and vegetables in Sweden, working with 60 growers across the country. The firm has entered into a joint venture with Vancouver, British Columbia-based Aurora Cannabis to build “Europe’s largest” medical marijuana production facility in 2018.The GOING GL BAL 86 • Marijuana Business Magazine • May-June 2018