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New Standard acquires three Agri-Med cannabis dispensaries in West Michigan MIBIZ PHOTO: KRISTI KORTMAN

New Standard acquires three Agri-Med cannabis dispensaries in West Michigan

BY Wednesday, May 12, 2021 02:34pm

MUSKEGON — Agri-Med LLC’s three dispensaries — which operate as Park Place Provisionary in Muskegon, Edmore Provisionary in Edmore, and Exit 9 Provisionary in Nunica — will be rebranded and operate as New Standard stores under an agreement announced this week. 

The agreement advances a partnership that began earlier this year when Agri-Med owner Greg Maki co-founded a dispensary in Sand Lake with New Standard CEO Howard Luckoff. Southfield-based New Standard opened its first dispensary in Oakland County in August 2020. The company also has commercial grow operations in Gladwin County and Muskegon.

New Standard will control and operate Agri-Med’s three dispensaries while Maki will retain an interest in the stores, according to company officials.

Luckoff is the former general counsel of Detroit-based Rock Ventures LLC, founded by entrepreneur Dan Gilbert, and also served as an attorney for 16 years at Honigman LLP.

Maki’s three dispensaries were the first to open in Muskegon, Ottawa and Montcalm counties. Discussions with Luckoff started about a year and a half ago about combining the two companies, which will help them compete with larger, multi-state competitors, Maki told MiBiz.

“We thought it would be best to take two very strong, successful companies and come together to compete against the titans and multi-state operators and out-of-state companies,” he said.

The three Agri-Med locations will be rebranded to incorporate the New Standard name in the coming weeks. New Standard also plans to expand to Grand Haven, Saugatuck and Whitehall in the next few months. 

Maki said his experience working in multiple municipalities on permitting and land acquisition will help with New Standard’s expansion.

“There are a lot of stores starting to open now where it’s been almost two years of behind the scenes work in getting this far,” Maki said. “It’s all happening very quickly now. You’ve got to be nimble and not afraid to take risks.”

New Standard expects to open the three new retail stores within the next three months, as well as add to a planned growing facility at Park Place Provisionary. 

“We’re looking at opportunities throughout the whole state,” Maki said. “We have a lot of things already confirmed and a lot more locations we have a chance at. We haven’t slowed down.”

In addition to Maki, Agri-Med employees will also join New Standard.

“These three locations have wonderful longstanding reputations and have paved the way for cannabis in the state of Michigan,” Luckoff said in a statement. “The faces you see in these stores will remain the same, our co-founders and New Standard teams look forward to meeting the communities and sharing the New Standard experience with them.”

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