Micah Anderson, CEO of publicly traded LEEF Brands, has spent nearly three decades in California cannabis, beginning as a cultivator in Mendocino County. In an interview with Cannabis Industry Journal, he discussed the economics of cannabis cultivation, lessons from New York, and preparing for interstate and international commerce.
LEEF started as a concentrate company but has since built a large-scale cannabis supply chain combining outdoor cultivation with concentrate manufacturing. The company’s strategy centers on controlling production costs, securing clean biomass, and preparing for a future in which cannabis products may move across state and international borders.
“We found that the success of our business came from pairing low-cost, high-quality outdoor cultivation with a larger concentrate business,” Anderson told Cannabis Industry Journal. He said that when the company did not own the cultivation site, it was hard to predict the business from a margin and supply chain standpoint, which is why LEEF brought cultivation in-house.
“We’re really a supply chain company. Right now, we supply concentrates. Could we eventually move into flower?
Absolutely,” Anderson told Cannabis Industry Journal.
LEEF has invested in Salisbury Canyon Ranch in Santa Barbara County, where Anderson believes the climate, cultivation economics, and location, which helps minimize pesticide drift, give the company an advantage. He said LEEF cannot control California market pricing but can control its production costs.
LEEF has paused its expansion in New York to give that market more time to mature. Anderson discussed the lessons the company learned in New York and how LEEF is preparing for potential changes in federal cannabis policy, including the possibility of cannabis products moving across state and international borders.
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