MedMen
MedMen was a United States cannabis company known for branded medical and recreational marijuana dispensaries, cultivation facilities, and a design-led retail model.
Last updated August 26, 2026
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Overview
MedMen was a United States cannabis company founded in 2010 by Adam Bierman and Andrew Modlin. The founders presented the business as an attempt to make cannabis more accessible and socially normalized as state-level legalization expanded. MedMen combined licensed cannabis retail, cultivation, manufacturing, and branded consumer marketing, seeking to position dispensaries as polished, professionally operated stores rather than informal outlets. The company’s most visible early market was California. MedMen West Hollywood was among the first stores to begin serving recreational customers after California’s adult-use market opened in January 2018, while MedMen Beverly Hills received what was reported as the first state license for a cannabis business in the city of Los Angeles. MedMen subsequently established a presence in Nevada, Arizona, Illinois, New York, Florida, and Massachusetts. Its retail footprint eventually included medical and adult-use stores, although the number of operating locations changed substantially as the company sold assets, closed stores, and reduced its activities. MedMen also pursued vertical integration. In 2018 it opened the MedMen Mustang greenhouse and manufacturing facility near Reno, Nevada, and began construction of a large cultivation facility in Desert Hot Springs, California. The company acquired or pursued licenses and businesses in several states, including a Florida nursery and retail license arrangement that was intended to support a large store network. During the second half of 2018, it acquired dispensaries or related operations in Arizona, Northern California, and Illinois. A proposed approximately $682 million acquisition of PharmaCann would have created one of the largest cannabis-company transactions in the United States, but the deal was abandoned after the board concluded that capital would be better used for organic expansion and market share development. MedMen became one of the better-known publicly traded U.S. cannabis businesses when it completed a reverse takeover and began trading on the Canadian Securities Exchange under the symbol MMEN on May 29, 2018. It had previously raised approximately $110 million through private placements and later obtained additional debt and equity financing. Despite substantial fundraising, the company faced high operating expenses, rapid cash consumption, management turnover, litigation, and criticism concerning its marketing and corporate governance. A proposed $250 million convertible financing facility with Gotham Green Partners was announced in 2019, while the company also formed a relationship with Treehouse Real Estate Investment Trust. Leadership instability became a recurring feature of MedMen’s later history. Co-founder Adam Bierman resigned as chief executive officer in February 2020 and surrendered his super-voting shares. Ryan Lissack and later Tom Lynch served in interim executive roles as the company attempted to restructure. MedMen’s financial and operational difficulties continued as the U.S. cannabis industry faced regulatory constraints, uneven state markets, limited access to conventional banking, and intense competition. By early 2024, reports indicated that MedMen had closed most of its remaining operations, retaining only a very limited presence around San Diego and Los Angeles International Airport. Trading in its Canadian-listed securities had been suspended on January 8, 2024, following cease-trade orders from Canadian securities regulators, and the securities were delisted in May. In April 2024, MedMen announced bankruptcy proceedings in Canada, while MedMen USA filed for voluntary Chapter 7 liquidation. The company discontinued future operations and ceased to operate as an active cannabis retail brand.
History
MedMen was established in 2010 by Adam Bierman and Andrew Modlin during the early expansion of regulated cannabis markets in the United States. The founders sought to build a recognizable, professionally presented cannabis company and to change public perceptions of dispensaries. Rather than treating cannabis retail solely as a medical-service transaction, MedMen emphasized store design, standardized customer experience, product presentation, and consumer-facing branding. California became the company’s principal early market. As adult-use cannabis became legal in the state, MedMen West Hollywood opened among the first recreational stores in the Greater Los Angeles area on January 2, 2018. MedMen Beverly Hills was subsequently identified as the first state-licensed cannabis business in the city of Los Angeles. These openings made the company a visible participant in California’s transition from medical-only cannabis commerce to a regulated adult-use market. MedMen pursued expansion beyond retail. In April 2018, it opened MedMen Mustang, a large greenhouse and manufacturing facility near Reno, Nevada, designed to support substantial cannabis production. The company also began building a second large facility in Desert Hot Springs, California. During 2018 it acquired or developed operations in Arizona, Northern California, Illinois, Nevada, New York, and Florida. A Florida licensing and nursery arrangement was intended to support a broad dispensary network, while stores in New York and Nevada extended the brand into additional regulated markets. The company’s expansion was accompanied by international partnerships and ambitious acquisition plans. In 2015, MedMen entered a relationship with Canadian producer MedReleaf, later associated with Aurora Cannabis, concerning product development and market opportunities. In March 2018, MedMen announced a Canadian joint venture with Cronos Group. Later that year, it pursued the acquisition of PharmaCann for approximately $682 million. The proposed transaction would have been a major U.S. cannabis-company deal, but it ultimately failed to close. MedMen’s board chose to direct resources toward organic growth instead. MedMen became publicly traded through a reverse takeover on the Canadian Securities Exchange on May 29, 2018, using the ticker MMEN. It also traded over the counter in the United States. Before the listing, the company had raised approximately $110 million in private financing, followed by additional debt and equity funding. In 2019 it announced a $250 million convertible financing facility with Gotham Green Partners and developed a relationship with Treehouse Real Estate Investment Trust, which raised capital to acquire properties from MedMen. These financing arrangements reflected the capital-intensive nature of cannabis retail and cultivation, but they also highlighted the company’s dependence on continued access to investment capital. MedMen’s rapid expansion produced financial and governance pressure. In 2019, reporting described a substantial quarterly cash burn even after expense reductions. Former CFO James Parker filed a wrongful-discharge lawsuit, which the company and its leadership disputed. Chief Operating Officer Ben Cook, General Counsel Lisa Sergi Trager, and communications executive Daniel Yi resigned in April 2019. The dispute also contributed to MedMen’s removal from the roster of the New York Medical Cannabis Industry Association. Separately, the company attracted criticism after cannabis advertising cited by the Journal of the American Medical Association included health-related claims, prompting calls for stronger evidence-based oversight of marijuana marketing. The brand’s marketing ambition was illustrated by a 2019 film directed by Spike Jonze and narrated by Jesse Williams. The advertisement framed cannabis normalization as part of American cultural history and criticized prohibition-era attitudes. Its style and historical framing made MedMen one of the most prominent examples of consumer-oriented cannabis advertising, though a later South Park promotional video was widely noted for similarities in its use of Founding Fathers and hemp-growing imagery. Leadership changes accelerated in 2020. Bierman resigned as CEO on February 1 and gave up his super-voting shares. Ryan Lissack became interim CEO, followed by Tom Lynch, who was appointed interim CEO and chief restructuring officer in March. MedMen continued to face the structural problems affecting many U.S. cannabis companies, including fragmented state regulation, restricted banking access, high operating costs, and competition from other licensed operators. By 2024, the company had contracted sharply. Reports in March indicated that most operations had closed, with only a limited presence remaining around San Diego and Los Angeles International Airport. Canadian securities trading was suspended in January and the shares were later delisted. In April, MedMen announced bankruptcy proceedings in Canada, and MedMen USA filed for voluntary Chapter 7 liquidation. The company ended all future operations, bringing the MedMen retail and corporate brand to a close.
- 2024
Trading suspension and delisting
[1]Canadian regulators suspended trading in MedMen securities in January, and the securities were delisted in May.
- 2024
Bankruptcy and liquidation
[1]MedMen entered Canadian bankruptcy proceedings and MedMen USA filed for Chapter 7 liquidation, ending operations.
- 2020
Founder-led CEO period ends
[1]Adam Bierman resigned as CEO, followed by interim leadership under Ryan Lissack and Tom Lynch.
- 2019
National cannabis normalization campaign
[1]MedMen released a Spike Jonze-directed advertisement presenting cannabis normalization through American cultural history.
- 2018
California recreational retail launch
[1]MedMen West Hollywood opened as California’s adult-use market began, and MedMen Beverly Hills received an early Los Angeles-area business license.
- 2018
MedMen Mustang opens
[1]The company opened a large greenhouse and manufacturing facility near Reno, Nevada.
- 2018
Public listing on the Canadian Securities Exchange
[1]MedMen became publicly traded through a reverse takeover under the symbol MMEN.
- 2015
MedReleaf collaboration
[1]MedMen partnered with Canadian producer MedReleaf on potential product-development and market-expansion opportunities.
- 2010
MedMen is founded
[1]Adam Bierman and Andrew Modlin co-founded MedMen as a cannabis company focused on regulated retail and related operations.
Products and positioning
A design-led, professionally managed cannabis retailer that sought to normalize cannabis consumption and bring mainstream consumer-brand presentation to regulated medical and adult-use markets.
Cannabis retail · 2018
MedMen dispensaries
The company’s primary consumer-facing offering was a network of branded dispensaries serving medical patients and, where permitted, adult-use customers. Stores emphasized contemporary interiors, product education, standardized presentation, and a retail experience intended to resemble mainstream specialty commerce. Locations operated under different state licensing regimes and carried cannabis products from MedMen and other approved suppliers.
Cannabis cultivation and manufacturing · 2018
MedMen cultivation and manufacturing
MedMen invested in cultivation and manufacturing infrastructure to support vertical integration and supply its retail network. The MedMen Mustang facility near Reno, Nevada, included a large greenhouse and manufacturing operation. The company also began development of a substantial cultivation facility in Desert Hot Springs, California.
Cannabis products
Medical cannabis products
Through its dispensaries and manufacturing activities, MedMen offered regulated medical cannabis products, including flower and other cannabis formats permitted by individual state programs. Product availability varied by jurisdiction, licensing status, and supply arrangements.
Cannabis products · 2018
Adult-use cannabis products
In states that authorized recreational cannabis, MedMen sold adult-use products through licensed retail stores. Its adult-use business became especially visible in California after the January 2018 market opening, although the product assortment and legal conditions differed across states.
Controversies
2024
Regulatory suspension and bankruptcy
MedMen securities were suspended by Canadian regulators and subsequently delisted. The company later entered bankruptcy proceedings in Canada, while its U.S. operation filed for Chapter 7 liquidation and ceased operations.
2019
Wrongful-discharge lawsuit and executive departures
Former CFO James Parker sued MedMen, alleging wrongful discharge. The company and its CEO denied the claims and described them as baseless. Around the same period, the COO, general counsel, and senior communications executive resigned. The dispute contributed to the New York Medical Cannabis Industry Association removing MedMen from its roster.
2019
Criticism of cannabis advertising claims
The Journal of the American Medical Association cited MedMen’s nationally broadcast health-related cannabis claims while calling for a national evidence-based regulatory framework for marijuana marketing.
Marketing campaigns
- 2019MedMen cannabis normalization film
United States
MedMen released a nationally broadcast video directed by Spike Jonze and narrated by Jesse Williams. The film connected cannabis use with American history, referenced George Washington, and criticized the country’s anti-cannabis policies and drug-war legacy.
Outcome. The campaign increased MedMen’s visibility as a consumer-oriented cannabis brand and became a prominent example of mainstream-style cannabis advertising. Its historical imagery was later compared by commentators with a South Park promotional video.
Brand decisions
2020
Founder transition and restructuring leadershipOtherBackground
MedMen was dealing with financial pressure, operating losses, and governance concerns.
Action taken
Adam Bierman resigned as CEO and surrendered his Class A super-voting shares. Ryan Lissack and then Tom Lynch assumed interim leadership, with Lynch also taking the restructuring role.
Aftermath
The leadership transition marked the end of the company’s founder-led phase but did not restore long-term operational viability.
2019
Cost-reduction programStrategyBackground
MedMen faced high operating expenses and a substantial cash-burn rate during its rapid expansion.
Action taken
The company reduced expenses by approximately 20 percent from 2018 levels, according to reporting cited in the reference material.
Aftermath
Cost reductions did not prevent later leadership changes, store closures, trading suspension, and liquidation.
Reported quarterly cash burn. (2019)
2018
Abandonment of proposed PharmaCann acquisitionM&ABackground
MedMen had announced an approximately $682 million plan to acquire PharmaCann, a transaction that would have been among the largest U.S. cannabis-company acquisitions.
Action taken
The board ended the proposed transaction and chose to direct capital toward organic expansion and increasing market share.
Aftermath
The deal did not close, leaving MedMen to pursue a more internally funded and operationally focused expansion strategy.
2018
Vertical-integration and multistate expansionStrategyBackground
MedMen sought control over retail, cultivation, manufacturing, and licensing as regulated cannabis markets opened across the United States.
Action taken
The company opened or developed cultivation infrastructure, acquired dispensary operations in several states, and pursued licenses intended to expand its retail footprint.
Aftermath
The strategy created a broad but capital-intensive operating structure that later contracted amid financial and management pressures.
Recent events
MedMen appoints Roz Lipsey as COO[2]
Reported:
MedMen announced Roz Lipsey's appointment as Chief Operating Officer, effective immediately. She succeeds Tim Bossidy, who had served as interim COO.
MedMen reports third-quarter fiscal 2021 results[3]
Reported:
MedMen released consolidated financial results for its third quarter of fiscal 2021, ending March 27, 2021. The company reported revenue of $32.0 million and a net loss of $9.7 million.
MedMen closes US$12.5 million convertible financing[4]
Reported:
MedMen announced that it had closed on US$12.5 million in additional gross proceeds under its senior secured convertible debt facility led by funds affiliated with Gotham Green Partners.
MedMen announces layoffs of more than 190 employees[5]
Reported:
MedMen announced a strategic plan to reduce costs and pursue positive EBITDA, including initiating the process of laying off more than 190 employees, over 80 of them at the corporate level.
MedMen opens Jacksonville Beach store[6]
Reported:
MedMen announced the opening of its new location in Jacksonville Beach, Florida, its fifth store in the state. The article states that the store was already open.
- Unconfirmed
Katz + Dogg announces planned availability at MedMen stores[7]
Katz + Dogg was set to become available at four MedMen stores in Los Angeles starting October 21; the source does not provide a publication date to establish the announcement date.
Sources7 sources
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