Debra BorchardtPrivately owned cannabis hiring firm Vangst has acquired CannabizTemp, the temporary staffing division of CannabizTeam. Vangst said in a statement that the acquisition was 50% cash and 50% stock.
“CannabizTemp was hands down our largest competitor,” said Karson Humiston, Vangst founder and CEO. “Liesl and her team built a phenomenal business with a strong and growing customer base, and we couldn’t be more excited to welcome the CannabizTemp customers into the Vangst family.”
Temp workers
Vangst launched its temporary worker business, Vangst GIGS, in 2018, in response to cannabis companies needing access to short-term workers. Since then, Vangst said it filled more than 200,000 temporary positions across 19 states.
CannabizTeam, an executive search firm founded by Liesl Bernard, focuses exclusively on the cannabis industry.
According to the statement, CannabizTeam will continue operating its executive search business, but Vangst customers will have access to the Cannabiz executive recruiters to support their executive hiring needs.
“This marks a pivotal moment for both Vangst and CannabizTeam,” Bernard said. “It enables us to concentrate on our respective areas of expertise, setting a new industry standard for specialization, providing a comprehensive talent solution to the industry.”
The acquisition of CannabizTemp brings Vangst’s total customer count to more than 1,700, and the firm now services 90% of all U.S. multistate cannabis operators. Vangst said that the integration of CannabizTemp customers will begin immediately.
Vangst recently released its jobs report, which highlighted that the U.S. cannabis industry tacked on another 22,952 jobs last year, a 5.4% year-over-year growth, for a new total of 440,445. Green Market Report wrote that nationally, cannabis industry growth was driven primarily by the Midwest, but also by “moderate” growth in East Coast markets.
The top states for marijuana industry job growth were Michigan and Missouri, both of which tacked on more than 10,000 jobs apiece. Michigan added 11,341 jobs, and Missouri added 10,735.
Vangst headquarters are in Denver, and the company has raised $30 million in venture capital.
