Posted on March 28th, 2024 by Canna Provisions

Canna Provisions Moves Forward into Employee Ownership with ESOP Announcement

Canna Provisions Announces Transition to Employee Ownership

Lee, MA–Canna Provisions, Massachusetts’ most award-winning dispensary and home to Smash Hits cannabis, proudly announces its transition from a privately held company to an Employee Owned company.

This significant move marks a milestone in the company’s journey towards a more inclusive and sustainable business model, emphasizing employee empowerment, community, and sustainability. The company’s volunteer work and creative community events have long been recognized by local leaders and peers alike. In 2023, Canna Provisions was honored by the Lee Chamber of Commerce as Corporate Citizen of the Year, and received similar accolades from the Kiwanis for its commitment to community improvement and good stewarding of local business.

“Providing an opportunity for our team to benefit from the value we are all building in Canna Provisions has been our top priority,” says Meg Sanders, CEO and co-owner of Canna Provisions. “We are incredibly proud to ensure that with this move, we now all win together. This transition, and now our ‘ownership’, will extend to a diverse spectrum of the community across social equity, veterans, and women in cannabis.”

CEO Meg Sanders Canna Provisions COO Erik Williams Lee Chamber of Commerce
CEO Meg Sanders and COO Erik Williams accepting the Lee Chamber of Commerce Corporate Citizen of the Year 2023 Award for Canna Provisions

A Leap Towards Inclusive Growth

Since its foundation in 2019 by industry veterans, Canna Provisions has aimed to enhance life’s journey with premium cannabis products, delivered through an unparalleled customer experience. With dispensaries in Lee and Holyoke, MA, Canna Provisions has become known not just as a dispensary but as a destination, celebrated for its unique ambiance, knowledgeable staff, and diverse product selection.

Canna Provisions has a demonstrated track record for its commitment both to the people comprising the company, as well as the communities within which it operates. Meg Sanders has been recognized as one of the most dynamic and thoughtful cannabis CEOs, and has been recognized as a Woman in Weed to watch, one of the 75 Most Notable People in Cannabis by Green Market Report, and in 2023 was voted as Cannabis Businessperson of the year by the NECANN Community Awards in Boston.

The transition to an ESOP signifies a commitment to embedding core values of empowerment, community, and sustainability deeper into its business practices. It enables employees, who have been key to the company’s success, to partake in the growth and prosperity of Canna Provisions as stakeholders.

“Employee ownership has been our goal since founding,” says Erik Williams, COO and co-owner of Canna Provisions. “We are so happy to have found a way to do that within existing regulations. For me personally, this move is indicative of my entire adult career – empowering and rewarding the people that help build and grow businesses. Canna Provisions is committed to our Western Massachusetts host communities in the long term and this move solidifies that.”

Empowering the Team

The team at Canna Provisions, viewed as a family, has propelled the company to the forefront of the Massachusetts cannabis market, establishing it as one of the state’s most profitable cannabis operators. The transition to an ESOP (Employee Stock Ownership Plan) ensures that employees are not just participants in the company’s journey but are key drivers of its future. This initiative underscores the company’s belief in collective ownership and shared success.

Staff at the Canna Provisions Lee store.
Staff at the Canna Provisions Holyoke store.

A Sustainable Future

Sustainability lies at the core of Canna Provisions’ operations, from cultivation practices to retail operations, aiming for a positive impact on the environment and community. The ESOP aligns with this mission, fostering a culture of long-term thinking and collective responsibility. As owners, Canna Provisions employees will be even more invested in the company’s success and the well-being of the community.

Looking Ahead

With the ESOP in place, Canna Provisions continues its commitment to offering high-quality cannabis products and an unmatched shopping experience. This transformation into an employee-owned company marks the beginning of a new chapter, with excitement for future growth and gratitude for the continued support from customers, employees, and the community.

For interview requests or more information about Canna Provisions and the transition to an ESOP, please contact: Dan McCarthy, Media Specialist, Canna Provisions: [email protected]

Visit Us and shop our menu Today and Transform Your Cannabis Journey

Ready to elevate your cannabis journey with the best flower menu in Western Massachusetts? Visit Canna Provisions today! Our friendly and knowledgeable staff are eager to guide you through our selection and help you find the perfect match for your needs. Whether you are a seasoned enthusiast or exploring cannabis for the first time, Canna Provisions is your ultimate destination for quality, variety, and satisfaction. Don’t wait – experience the pinnacle of cannabis flower selections, as well as edibles, and see why we are the most award-winning Western Massachusetts retail adult use cannabis dispensary!

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