Another Massachusetts cannabis company has finalized a plan to provide ownership shares to its employees.
Canna Provisions, an award-winning company with retail locations in Lee and Holyoke, recently completed the transition through an employee stock ownership plan, fulfilling a longtime goal for the company’s leadership.
“Employee ownership has been our goal since founding,” said Erik Williams, chief operating officer and co-owner of Canna Provisions. “We are so happy to have found a way to do that within existing regulations. For me personally, this move is indicative of my entire adult career — empowering and rewarding the people that help build and grow businesses. Canna Provisions is committed to our Western Massachusetts host communities in the long term and this move solidifies that.”
Since its inception in 2019, Canna Provisions has won numerous industry and community awards, including being named the Lee Chamber of Commerce Corporate Citizen of the Year in 2023.
“Providing an opportunity for our team to benefit from the value we are all building in Canna Provisions has been our top priority,” Canna Provisions CEO and co-owner Meg Sanders said in a press release. “We are incredibly proud to ensure that with this move, we now all win together. This transition, and now our ‘ownership,’ will extend to a diverse spectrum of the community across social equity, veterans and women in cannabis.”