It’s been an interesting time in the world of cannabis, and perhaps no company is as immersed throughout the entire ecosystem than RIV Capital. Thus, we brought on CEO Mark Sims to discuss the variables effecting the market at this time—including the company’s recent closure of Etain, LLC and Etain IP LLC, owners and operators of legally licensed cannabis cultivation and retail dispensaries in the state of New York.
RIV Capital is an acquisition and investment company specializing in cannabis in the U.S. market. RIV Capital is more than just a capital provider—it helps build a sustainable business ecosystem of portfolio companies. The company focuses on acquiring, investing in, launching, and/or developing U.S. operators and brands across financially and strategically attractive states to create a multistate platform.
RIV Capital boasts a strong balance sheet, with approximately $169 million of cash on hand as of June 10, 2022. The company anticipated that the cash required for the final closing of the Etain acquisition will be approximately U.S. $42.4 million .
The company obtained the bulk of its current working capital through Hawthorne Collective, a newly-formed cannabis-focused subsidiary of The Scotts Miracle-Gro Company in 2021 with the purchase of a US$150 million unsecured convertible note from RIV Capital. The Investment established RIV Capital as The Hawthorne Collective’s preferred vehicle for investments not currently under the purview of The Hawthorne Gardening Company.
The Hawthorne Gardening Company describes itself as North America’s leader in indoor and hydroponic growing supplie.. Since its inception, it has grown into one of the largest cannabis-focused companies in the world on a revenue basis, and has cultivated relationships with operators, brands, and ancillary providers.
RIV Capital’s strategy remains the same as its previously disclosed plans to acquire, invest in, launch, and/or develop U.S. assets to build a multistate cannabis operating and brand platform.
Click on the embedded link to view our inaugural interview with RIV Capital CEO, Mark Sims.