Budr Expands Connecticut Cannabis Footprint with Acquisition of Three Former Botanist Stores

Connecticut-based cannabis company Budr has acquired three retail locations from multistate operator The Botanist, expanding its presence in the state from four to seven dispensaries. The strategic acquisition was supported by Poseidon Investment Management, a prominent cannabis-focused investment firm.

The deal marks a significant milestone for Budr as it consolidates its position in Connecticut’s competitive marijuana retail market. The newly acquired locations are situated in Danville, Montville, and Vernon—regions previously served by The Botanist, which is divesting its Connecticut operations while maintaining activity in other states.

Deal Backed by Cannabis Investment Firm Poseidon

Poseidon Investment Management, known for funding growth-stage cannabis companies, financed the acquisition. While specific financial terms of the transaction were not disclosed, Poseidon has previously invested approximately $1 million in Budr’s expansion in New Jersey, signaling continued confidence in the operator’s ability to scale and execute.

The latest transaction underscores Poseidon’s investment strategy, which favors regionally focused operators with growth potential and strong market positioning. The capital injection is expected to help Budr not only expand its retail footprint but also advance operational integration across its newly acquired stores.

The Botanist Retreats from Connecticut While Retaining Presence in Other States

Although The Botanist has exited the Connecticut retail market through this divestiture, the company remains active in other key East Coast markets. According to its website, The Botanist continues to operate dispensaries in Massachusetts, New Jersey, New York, and Ohio. The company is headquartered in Montville, Connecticut—one of the towns where it has now transferred retail operations to Budr.

This move is part of a broader trend among multistate operators reassessing their regional strategies amid regulatory complexity and fluctuating market dynamics. For companies like The Botanist, narrowing focus to core markets appears to be a deliberate shift aimed at improving operational efficiency and financial performance.

Budr Eyes Cultivation Capacity to Support Retail Growth

In addition to increasing its retail footprint, Budr is exploring opportunities to enhance its supply chain control. The company is currently searching for a suitable warehouse in either Danbury or Manchester for a planned 10,000-square-foot cultivation facility.

The buildout of in-state cultivation capacity would enable Budr to vertically integrate operations, reduce reliance on third-party producers, and optimize distribution to its growing network of stores. The company views micro-cultivation as a key strategic move that will support product consistency, pricing control, and ultimately, customer experience.

Budr Strengthens Position in Connecticut’s Growing Cannabis Market

With the addition of the three former Botanist dispensaries, Budr now operates seven cannabis retail locations in Connecticut: Danbury, Stratford, Tolland, West Hartford, Danville, Montville, and Vernon. The company also maintains a retail outlet in Yonkers, New York.

The three new locations acquired from The Botanist previously served both medical and adult-use cannabis customers, reflecting Connecticut’s evolving regulatory framework that allows for dual-purpose licensing. Budr, which had focused on medical marijuana at its Stratford location, is expected to align all acquired stores under a unified retail strategy.

Budr Poised for Further Growth Amid Market Consolidation

As Connecticut’s legal cannabis market matures, Budr is positioning itself as a major player with a growing network and ambitions to rival established leaders like Fine Fettle. The company’s strategy emphasizes measured integration and investment in infrastructure to ensure long-term sustainability.

By expanding its footprint, developing cultivation capacity, and investing in operational excellence, Budr appears well-suited to capitalize on opportunities within the state’s expanding cannabis ecosystem. The combination of strategic acquisitions and investor backing signals that Budr intends to remain a central force in Connecticut’s cannabis future.