Goldman Sachs partners with GenCanna as financial advisor

Published Wednesday, September 25, 2019
by Staff Report

GenCanna Global, Inc. announced Monday that Goldman Sachs is serving as a financial advisor to the hemp agricultural company to assist it in evaluating an initial public offering and other strategic alternatives.

“We have made significant investments in growing the hemp industry in the spirit of the farm bill: investing in American farmers and the necessary infrastructure to capture the value of the hemp crops grown on their farms,” Matty Mangone-Miranda, CEO of GenCanna Global, said in a news release. “This investment requires incredible dedication, tremendous hard work and meaningful capital.

“We are excited to partner with Goldman Sachs as we explore a variety of ways to continue our category-leading growth,” Mangone-Miranda added.

“As with any healthy, growing business we are always evaluating mechanisms of fueling our growth,” she said via email. “Given the prestige of Goldman Sachs, being their first partner in the hemp industry is a significant opportunity.”

The release added that Pillsbury Winthrop Shaw & Pittman, a national and international law firm, will also be advising GenCanna as it “evaluates strategic growth options with Goldman Sachs.”

That prompted a pivot from processing the locally grown hemp to receiving the harvest and baling it at the Mayfield site before transporting it to GenCanna’s Winchester facility for final processing.

Robertson told The Mayfield Messenger in an August interview that the Mayfield plant would be ready to dry and process the 2020 crop.