The Green Solution sprouts seeds of growth after acquisition announcement

LONGMONT —  On the heels of recent news that The Green Solution LLC will soon be acquired by a New York cannabis firm for $140 million, the Denver-based retail pot chain — one of the largest in Colorado — has continued its expansion out from the Denver market with the opening of a new location in Longmont.

“Longmont has been a town we’ve been eye-balling for a long time,” TGS CEO Steve Lopez said. “But obviously we had to wait until the local municipality agreed to allow marijuana sales to take place.” The city opened its doors to recreational pot sales in late 2018.

The Longmont location, TGS’ 21st pot shop in Colorado, is at 206 S. Main St. and will celebrate its grand opening Jan. 25. 

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“We’ve got customers throughout Colorado, so we’re really trying to expand our footprint to make it more convenient for them,” Lopez said. “…We had a gap between the Denver metro area and Fort Collins [where TGS operates a dispensary on College Avenue]. The perfect place for us is Longmont.”

When TGS opens in a new community, the firm identifies a local nonprofit organization to support. In Longmont, that group is Sustainable Resilient Longmont, which advocates for environmental protection and responsible economic growth.  

“They’re a great group for education and advocacy on sustainability,” Lopez said.

The Longmont location is the second new TGS store to open in the roughly two months since the firm announced plans to merge with Columbia Care Inc. (OTCQX: CCHWF). The other new dispensary is in Glenwood Springs.

“We’ve got a lot of customers who have told us that they play in the mountains and would love to have a place … to make purchases [in areas closer to ski resorts] when they get there,” Lopez said. 

Columbia Cares’ leadership team is supportive of TGS’ growth, Lopez said. 

“They really believe in the assets they’re purchasing and look at us as a leader in this market,” he said. “… We had plans in the works [for the new Glenwood Springs and Longmont locations] before the deal, but [Columbia Cares] is very much on board.”

The deal is expected to close later this year. 

“This transaction further advances Columbia Care’s promise to maximize shareholder return by making us even stronger, both financially and operationally, as we expect to see the majority of our existing markets transition to less regulated, legalized operating environments,” Columbia Care CEO Nicholas Vita said in a prepared statement when the acquisition was announced in November 2019.

Lopez said TGS plans to continue its expansion as new recreation cannabis markets open for business. While he was tight-lipped about where exactly the company hopes to open up shop next, Lopez said TGS’ leadership is “always looking at what our next move is based on the needs of our customers.”