Schwazze
Schwazze was a vertically integrated, multi-state cannabis operator headquartered in Denver, Colorado, operating 63 retail dispensaries and 10 cultivation/manufacturing facilities in Colorado and New Mexico to serve adult-use and medical cannabis consumers before its 2026 acquisition by Vireo Growth.
- Company typePrivate
- Founded2012
- HeadquartersDenver, United States
- Headcount501–1,000
- GTM typeB2C
- OfferingServices
What Schwazze does
Schwazze, legally Medicine Man Technologies, Inc., was a vertically integrated cannabis company headquartered in Denver, Colorado, operating retail dispensaries and cultivation/manufacturing facilities under state-issued cannabis licenses. The company's core offering consisted of two integrated product lines: (1) retail dispensary operations selling adult-use recreational and medical cannabis products directly to consumers across Colorado and New Mexico, and (2) in-house cultivation and manufacturing operations producing cannabis products for distribution through its owned retail channel. At its peak the company operated 63 dispensaries and 10 manufacturing/cultivation facilities across two states with 501-1,000 employees, generating revenue through high-velocity retail transactions (transaction-fee model at the retail level) and wholesale-equivalent transfers internally.
Schwazze pursued an acquisition-led growth strategy beginning in 2020, using a $95 million convertible note financing in December 2021 to fund expansion into New Mexico (Greenleaf and related assets for $42 million) and additional Colorado acquisitions including Urban Health & Wellness ($3.2 million, 2022) and Lightshade Labs ($2.75 million, 2022). The company served two primary customer segments: adult-use recreational cannabis consumers and medical cannabis patients, with all sales conducted through company-owned storefronts in regulated US cannabis markets. No proprietary software, AI/ML, or technology platform components were disclosed; the business was a licensed, physical-goods operator.
Following financial pressure reflected in the October 2025 Restructuring Support Agreement with Vireo Growth, Vireo acquired substantially all Schwazze operating assets in March 2026 — 24 Colorado dispensaries, 21 New Mexico dispensaries, and one manufacturing facility per state — while the remaining Schwazze entity is being wound down. As a standalone going concern, Schwazze no longer operates; its former footprint and licenses now sit within Vireo Growth's portfolio.
Schwazze firmographics
Firmographics- Name
- Schwazze
- Legal name
- Medicine Man Technologies, Inc.
- Website
- https://schwazze.com
- Company type
- Private
- Founded year
- 2012
- Operating status
- Acquired
- Headcount range
- 501–1,000 employees
- Short description
- Schwazze was a vertically integrated, multi-state cannabis operator headquartered in Denver, Colorado, operating 63 retail dispensaries and 10 cultivation/manufacturing facilities in Colorado and New Mexico to serve adult-use and medical cannabis consumers before its 2026 acquisition by Vireo Growth.
- Ownership category
- akta.pro rank
Schwazze industry classification
Industry- Product category
- Cannabis Retail
- NAICS
- Tobacco, Electronic Cigarette, and Other Smoking Supplies Retailers (459991)
- SIC
- Retail-Drug Stores And Proprietary Stores (5912)
- akta.pro primary industry
- Adult-Use (Recreational) Cannabis Dispensaries (CRANAFAA)
- akta.pro secondary industries
- Medical Cannabis Dispensaries (CRANAFAB), Cannabis Dispensary + Delivery/Online Pickup (Omnichannel Retail) (CRANAFAG)
Keywords
Where Schwazze is headquartered
LocationHeadquarters
- HQ city
- Denver
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Schwazze business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Marketing or Sales
Revenue model
- Cannabis Retail Sales: Revenue from operating retail dispensaries selling cannabis products to consumers in Colorado and New Mexico.
- Cannabis Cultivation and Manufacturing: Revenue from cultivation facilities and manufacturing operations producing cannabis products for sale through company-owned dispensaries.
Go-to-market motion1 record
Distribution channels1 record
Schwazze product offering
Product offeringCore offering
Schwazze operates retail cannabis dispensaries and vertically integrated cannabis cultivation and manufacturing facilities in Colorado and New Mexico. The company sells adult-use recreational and medical cannabis products directly to consumers through its owned dispensary storefronts, with the majority of product sourced from its own cultivation and manufacturing operations.
Product overview
Schwazze (dba Medicine Man Technologies, Inc.) is a vertically integrated cannabis company operating a portfolio of retail dispensaries and manufacturing/cultivation facilities in Colorado and New Mexico. The company previously operated 63 dispensaries and 10 manufacturing facilities before restructuring its operations through an asset sale to Vireo Growth. The core offering consists of cannabis retail through dispensary locations and in-house cultivation/manufacturing operations.
Differentiator
Problem solved
Functional benefit
Products and services
- Retail Dispensaries Retail cannabis dispensary operations selling cannabis products directly to consumers in Colorado and New Mexico markets.
- Manufacturing Facilities Cannabis cultivation and manufacturing operations producing cannabis products for distribution through company-owned dispensaries in Colorado and New Mexico.
Companies that use Schwazze
Customer profileSegments3 records
Ideal customer profiles2 records
Schwazze technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Schwazze partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered minor.
- Lightshade Labs LLCminorSchwazze signed definitive documents to acquire certain assets of Lightshade Labs LLC, including two dispensaries in Colorado, with an all-cash consideration of US$2.75 million. Transaction planned to close in Q1 2023 pending licensing approvals.
- Urban Health & Wellness, Inc.minorSchwazze signed definitive documents to acquire all assets of Urban Health & Wellness, Inc., including a dispensary and a cultivation facility in Denver, Colorado for $3.2 million, paid partly in cash and stock.
- GreenleafminorSchwazze entered into an agreement to acquire assets and licenses in New Mexico, including Greenleaf, to expand its operations into a new state. The acquisitions include multiple dispensaries and cultivation facilities.
Scale indicators6 records
Recent moves6 records
Expansion highlights3 records
Schwazze competitors and assessment
Company assessmentDirect peers
- Curaleaf Holdings: Large U.S. multi-state cannabis operator with vertically integrated cultivation, manufacturing, and retail dispensaries across numerous states; directly comparable to Schwazze's vertically integrated MSO model in Colorado and New Mexico.
- Trulieve Cannabis: U.S. multi-state cannabis operator combining retail dispensaries with in-house cultivation and manufacturing, sharing Schwazze's vertically integrated, multi-state operating approach.
- Green Thumb Industries: U.S. cannabis MSO with retail and consumer packaged goods operations across multiple states, comparable in operating model to Schwazze's integrated dispensary and cultivation footprint.
- Cresco Labs: Multi-state cannabis operator with wholesale, retail, and cultivation operations; comparable to Schwazze as a vertically integrated MSO serving regulated state markets.
- Verano Holdings: U.S. cannabis MSO operating dispensaries and cultivation/production facilities across multiple states, closely matching Schwazze's integrated retail-and-cultivation operating model.
- Vireo Growth Inc. Acquired substantially all Schwazze operating assets in 2026 and now operates the same Colorado and New Mexico dispensary and manufacturing footprint; the most direct peer and successor operator of the Schwazze platform.
- TerrAscend: Multi-state cannabis operator with retail, cultivation, and processing assets; comparable to Schwazze as a vertically integrated player with similar state-market concentration profile.
- Ayr Wellness: Cannabis MSO operating dispensaries and cultivation/production facilities in multiple U.S. states, with a similar integrated operating model to Schwazze's Colorado/New Mexico platform.
- Columbia Care: U.S. cannabis operator with retail dispensaries and cultivation/processing capabilities across multiple states; directly comparable in vertical integration and multi-state footprint.
- The Green Solution: Colorado-based vertically integrated cannabis operator with dispensaries and cultivation in the same primary market as Schwazze, making it a direct regional competitor in retail and wholesale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights4 records
Customer concentration
Schwazze social profiles
Digital presenceSchwazze financial estimates
Financial estimateRevenue estimate
Valuation estimate
Schwazze leadership team
Management profileNumber of profiles
Profiles6 records
Schwazze subsidiaries and ownership
Company hierarchySubsidiaries2 records
Schwazze funding detail
Funding detailFunding overview
Funding rounds3 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Schwazze M&A and investment
M&A and investmentM&A6 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Schwazze
What does Schwazze do?
Schwazze operates retail cannabis dispensaries and vertically integrated cannabis cultivation and manufacturing facilities in Colorado and New Mexico. The company sells adult-use recreational and medical cannabis products directly to consumers through its owned dispensary storefronts, with the majority of product sourced from its own cultivation and manufacturing operations.
Is Schwazze a public or private company?
Schwazze is a private company. It is classified as corporate owned and is currently acquired.
When was Schwazze founded?
Schwazze was founded in 2012. It employs 501 to 1,000 people.
Where is Schwazze based?
Schwazze is headquartered in Denver, United States, in the North America region.
How does Schwazze make money?
Two revenue lines are on record. Cannabis Retail Sales are the primary driver. The others are cannabis Cultivation and Manufacturing.
Who are Schwazze's main competitors?
Direct peers on record are Curaleaf Holdings, Trulieve Cannabis, Green Thumb Industries, Cresco Labs, Verano Holdings, Vireo Growth Inc., TerrAscend, Ayr Wellness, Columbia Care and The Green Solution.
Does Schwazze have an API?
No public API is recorded for Schwazze.
What industry is Schwazze in?
Schwazze's product category is Cannabis Retail. Its primary akta.pro industry code is CRANAFAA, Adult-Use (Recreational) Cannabis Dispensaries, with a secondary code of CRANAFAB, Medical Cannabis Dispensaries. Its NAICS code is 459991 and its SIC code is 5912.