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Grown Rogue International
Obie Strickler runs Grown Rogue as a low-cost craft cannabis producer operating across Oregon, Michigan, Minnesota, and New Jersey.
Grown Rogue International
Grown Rogue International launched in 2014 as a private company before going public on the Canadian Securities Exchange via a reverse takeover in 2018. CEO Obie Strickler, who previously led a real estate development firm, positioned Grown Rogue to compete on production economics rather than branding alone. The company was founded in Oregon, one of the first states with an adult-use market, but its structural origin story is about cost control: Strickler built the original facility on a former lumber site in Medford, leveraging the region's cheap water, dry climate, and agricultural infrastructure. The company operates as a vertically integrated cultivator and distributor, selling both flower and pre-rolled products. Its asset-class mix is concentrated in indoor and greenhouse cultivation, with additional revenue from retail partnerships and wholesale distribution. Grown Rogue has expanded its geographic footprint from Oregon into Michigan, Minnesota, and New Jersey. A significant structural move came in 2021 when the firm closed a strategic investment from Goodness Growth Holdings, a multistate operator that acquired warrants in Grown Rogue and initiated a licensing agreement to bring its cultivation methods to Minnesota and New York. As a publicly traded micro-cap, Grown Rogue's scale is measured by production yield rather than headcount or traditional AUM. The company reports cultivation capacity in square feet and pounds harvested, not invested assets. In December 2023, the firm announced a joint venture with a Canadian partner to begin operations in New Jersey, marking its fourth state market. The company maintains an agricultural operating company adjacent to its cannabis business — Golden Harvests, a hemp venture that provides non-cannabis cash flow and infrastructure flexibility. Grown Rogue's structural differentiator is its explicit positioning as a low-cost producer in an industry where most competitors chase premium branding. The company publicizes its cultivation cost per gram — roughly $0.45 in mature facilities — which is below standard benchmarks for indoor cannabis. This manufacturing mindset, rather than a craft or lifestyle brand identity, shapes how the company allocates capital, selects markets, and structures its licensing agreements with larger multistate operators.
General information
Firm type
Asset Manager
Year founded
2014
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Medford
Corporate office
Medford, OR, United States
Principals
Obie Strickler
CEO
Sector focus
Frequently asked questions
What makes Grown Rogue's cultivation approach distinct from other cannabis operators?
Grown Rogue treats cannabis cultivation as commodity manufacturing, prioritizing low production costs over premium branding. The company reports a cost per gram of approximately $0.45 in mature facilities, well below standard indoor cultivation benchmarks. This focus on operational efficiency originates from CEO Obie Strickler's background in real estate development and the company's early decision to build its first facility on a former industrial lumber site in Oregon.
In which states does Grown Rogue currently operate?
Grown Rogue operates in Oregon, its original home market, and has since expanded into Michigan, Minnesota, and New Jersey. The Minnesota entry came through a licensing partnership with Goodness Growth Holdings, a multistate operator that invested in Grown Rogue in 2021. The New Jersey launch was announced via a joint venture in December 2023.
How does Grown Rogue fund its expansion into new markets?
Grown Rogue funds expansion primarily through strategic partnerships and licensing agreements rather than large-scale equity raises. The 2021 deal with Goodness Growth Holdings provided both capital and market access in Minnesota and New York. The company's New Jersey joint venture follows a similar asset-light model, where the partner typically provides the license and local operational infrastructure while Grown Rogue contributes cultivation expertise and genetics.
Does Grown Rogue have any non-cannabis business lines?
Yes. The company maintains Golden Harvests, an agricultural hemp operation that generates non-cannabis revenue. This structure provides regulatory flexibility — hemp can be transported across state lines — and offers a hedge against cannabis license concentration risk. It also allows Grown Rogue to maintain cultivation infrastructure that can pivot between hemp and cannabis as market conditions shift.
What is Grown Rogue's relationship with Goodness Growth Holdings?
Goodness Growth Holdings, formerly known as Vireo Health, made a strategic investment in Grown Rogue in 2021, receiving warrants and entering a licensing agreement. Under this arrangement, Grown Rogue provides its cultivation protocols and genetics to Goodness Growth's facilities in Minnesota and New York. This partnership gives Grown Rogue market access without requiring it to independently secure highly competitive state licenses.
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