Verano Holdings opened its 88th Florida dispensary this week, a MÜV location in Daytona Beach that marks the company's sixth store in Volusia County.
The Chicago-based multi-state operator scheduled a grand opening for November 13 at the new location, pushing its nationwide store count to 165 across 14 states. The expansion comes as Florida's medical cannabis market continues to draw heavy investment from major operators ahead of a potential recreational ballot measure.
Florida has become Verano's largest state footprint by far. The company operates more than half its total dispensaries in the Sunshine State, where it competes with Trulieve, Curaleaf, and other major players for market share. Verano runs 88 Florida locations under the MÜV brand, compared to roughly 77 stores spread across its other 13 markets.
Florida's Competitive Landscape
The Daytona Beach opening reflects the intense competition in Florida's medical market, where licensed operators race to build out retail networks before any potential adult-use legalization. Volusia County alone now has six MÜV dispensaries, giving Verano significant presence along Florida's east coast.
Verano has not disclosed specific revenue figures for its Florida operations, but the state accounted for a substantial portion of the company's $223 million in third-quarter revenue reported in November 2023. The company's Florida strategy focuses on vertical integration, with cultivation and processing facilities supporting its retail expansion.
The medical cannabis market in Florida served more than 800,000 active patients as of late 2023, with total sales exceeding $2 billion annually. Industry analysts expect continued growth even without recreational legalization, driven by an aging population and expanding qualifying conditions.
What's Next
Verano's aggressive Florida buildout positions the company for potential adult-use sales if voters approve a recreational measure. Smart & Safe Florida, backed by Trulieve, is pushing for a 2024 ballot initiative that would legalize recreational cannabis for adults 21 and older.
The Daytona Beach location joins a dense network of MÜV stores across Central Florida, including multiple locations in Orlando, Melbourne, and Port Orange. Verano has not announced additional Florida openings beyond the Daytona Beach store, but the company has historically opened new locations at a steady pace throughout the state.
The grand opening will feature standard promotional offers for new customers, though specific details were not disclosed. MÜV dispensaries typically carry Verano's house brands alongside select third-party products available through Florida's medical program.
This article is based on original reporting by www.cannabisbusinesstimes.com.
