Debra BorchardtCannabis employment company Vangst is buying cannabis temp company GreenForce for an undisclosed amount.
GreenForce operates in Oregon and Arizona. GreenForce Founder and CEO Ryan Rosenfeld will join Vangst as the Chief Business Officer focused on further regional and national expansion, effective immediately.
“We are honored to welcome GreenForce customers and Ryan to the Vangst family,” said Karson Humiston, Founder & CEO of Vangst. “Ryan is a phenomenal entrepreneur who built a great business from the ground up, and I am very much looking forward to kicking ass together.”
Greenforce was founded in 2016, and since that time, the company has expanded from its home state of Oregon and entered Arizona where they’ve experienced exceptional growth providing skilled harvesting, cultivation, trimming, and other temporary labor services to licensed cannabis businesses. According to the company statement, Greenforce has over 100 clients across the two states and has aggressive growth plans for the rest of 2024 and beyond.
“I am exceptionally proud of the business we built at Greenforce, and couldn’t be more excited for our next chapter with Vangst,” said Ryan Rosenfeld, Greenforce Founder & CEO. “This transaction will give us the opportunity to expand more aggressively than ever before, provide an even more superior experience to our customers and workforce, and most importantly, continue to uplift the cannabis industry.”
This is Vangst’s second acquisition this year. In April, the company acquired CannabizTemp, the temporary staffing division of CannabizTeam. Cannabiz Temp also focused on executive staffing. At the time, Vangst said that the acquisition was 50% cash and 50% stock.
The acquisition further consolidates cannabis hiring companies. The company said that the deal brings Vangst’s total customer count to over 1,800. Vangst said it currently works with 90% of the top US cannabis operators, helping them hire both temporary and full-time, fully credentialed, ready-to-work employees. Vangst has over 150,000 workers on its platform and is investing heavily in automating the cannabis hiring experience for both employees and businesses.
Vangst is headquartered in Denver, CO and has raised $30M in venture capital. The company is backed by Lerrer Hippeau, Level One Fund, Colle Capital, Snoop Dogg’s Casa Verde Capital, and others.
