Rubicon CEO Margaret Brodie Reflects on 2025 for Cannabis
On the latest episode of Trade To Black, hosts Shadd Dales and Anthony Varrell chat with Rubicon Organics CEO Margaret Brodie as we close out 2025 by reflecting on a year that has been transformative for the global cannabis industry. With renewed attention on U.S. rescheduling and international reform, the conversation focused on how Canada, Europe, and emerging markets are positioning themselves for the next phase of growth.
We open with a retrospective on Canada’s legalization journey, tracing market behavior back to Prime Minister Justin Trudeau’s 2015 announcement and the eventual rollout in 2018. Dales emphasized how today’s Canadian cannabis market is markedly different from its early days, with fewer companies remaining but stronger, more disciplined business models now driving the sector forward.
Rubicon Organics CEO Margaret Brodie discussed the evolution of both her company and the broader Canadian market from the beginning through now in 2025. Brodie highlighted the importance of grit, operational discipline, and execution, noting that Rubicon has grown from a small team into a business employing over 250 people, with further expansion planned. She emphasized that cannabis has become normalized in Canadian society, shifting the industry from survival mode into a more strategic phase.
The conversation also explored how U.S. policy developments could impact Canadian operators. While adult-use cross-border trade remains unlikely in the near term due to international regulations, medical exports and European markets present opportunities. She stressed that premium positioning, consistent quality, and understanding a company’s “right to win” are essential as global competition increases.
Brodie observed declines in flower sales overall, alongside strong growth in pre-rolls, vapes, and convenience-driven formats. However, she argued that premium flower remains critical to building enduring cannabis brands, likening it to haute couture supporting luxury fashion houses.
Looking ahead to 2026, Brodie predicted further consolidation in Canada, increased emphasis on brand execution, and expanding international opportunities. While regulatory challenges remain, she expressed confidence that disciplined operators with strong brands are well-positioned for long-term success.
