DANBURY – The takeover by the cannabis dispensary Budr of three competing shops in Danbury, Vernon and Montville is fueling growth for a company that not only wants to be a major cannabis retailer in Connecticut but also a producer.
Budr’s acquisition of three hybrid retail and medicinal shops owned by The Botanist, announced in a statement Monday, grows Budr’s footprint in Connecticut by 74% – from four locations to seven – as the company’s founder look in Danbury and in Manchester for a warehouse suitable for a 10,000-square-foot cannabis production farm.
“Micro-cultivation is going to … put us in control of our distribution," said Carl Tirella, founder of Budr, during an interview from the company’s newly acquired former Botanist location on Danbury’s west side. “At the end of the day, we could be the second largest company in Connecticut, behind Fine Fettle, but first, integration is our priority; we want to make sure our customer experience second-to-none.”
Budr, which has locations in West Hartford, Tolland, Stratford, and Danbury’s east side, has been meeting its sales goals and saw an opportunity to buy out a competitor, Tirella said. Terms of the Botanist acquisition were not released, except that the deal was financed by Poseidon Investment Management.
The deal means that the Botanist is no longer in Connecticut. The Botanist did not immediately respond Monday to a request for comment about what caused its demise here.
The Botanist posted a farewell message on its Connecticut websites, followed by a peace sign emoji.
“As our Connecticut journey ends, we say thank you,” the statement says. “For your loyalty, your stories, and your smiles – we’re forever grateful. Wishing you happiness, health, and high times ahead.”
On Monday, customers of the former Botanist in Danbury, Vernon and Montville saw different employee uniforms and other signs of the new ownership, which stresses customer experience among its business priorities.
“Customers love our vibe, and that loyalty goes a long way,” Tirella told CT Insider on Monday. “We’re going to bring that (vibe) to the new stores.”
The three former Botanist locations were hybrid shops that sold both medicinal cannabis and recreational cannabis for adults. Before the acquisition, Budr sold only medicinal cannabis at its Stratford location.
“I come from a medicinal background,” said Tirella, who was general manager for The Botanist’s parent company in Connecticut before he left to found Budr. “It’s important to give patient access and affordability to the medical product.”
Budr’s acquisition comes at a time when other companies are making a push for a larger share of the cannabis market. In addition to Fine Fettle, which has nine locations, in including Stamford and Norwalk, Zen Leaf and Curaleaf are also players with seven and five locations in Connecticut respectively.
Late last year, Shangri-La made headlines with plans to open six dispensaries and a grow site to add to its Norwalk location.
The key to success, Tirella said, is for companies to grow what they sell. That is why Tirella said he is in the market for a warehouse to open a micro-cultivation farm.
“I have spoken to Danbury Mayor (Roberto) Alves and, if we find a property that is suitable, we look forward to working with him,” Tirella said of a possible Danbury location.
