Deloitte acquires Cannabis Compliance Inc.

Deloitte Canada last month acquired Cannabis Compliance Inc. (CCI), a Mississauga-based advisory firm specializing in the cannabis sector. The newly established CCI Deloitte will provide cannabis sector clients with end-to-end consulting services.

Founded in 2017 and billing itself as “Canada’s original cannabis consulting firm,” CCI provides end-to-end industry-focused advisory services, from cultivation and strain development to facility design, security, regulatory licensing, workforce training, and business planning. CCI’s central focus is on obtaining Health Canada approval for programs and proposals, along with follow-up regulatory compliance.

In January 2018, the consulting firm bought a 40% stake in cannabis security consultancy 3 Sixty, strengthening its position as a broadly based cannabis industry service provider.

The acquisition of CCI will see its team of 75 employees relocate to Deloitte’s downtown Toronto headquarters. Brian Wagner, CCI’s founder and chair, joins Deloitte as a senior advisor, while president and CEO Dale Hooper, CFO Sid Hathiramani, and VP of quality and regulatory Karina Lahnakoski join as partners in Deloitte’s risk advisory practice.

“Canada has quickly become a global leader in the cannabis industry,” said Anthony Viel, CEO of Deloitte Canada. “As legislation evolves in other countries, it’s important for businesses to understand and prepare for unique risks and challenges. Businesses will need to continue innovating to secure a healthy, sustainable competitive position.”

CCI Deloitte will provide consulting services across compliance and assessments, facility and operational support, market entry assessments, training and education, recruitment, licensing and applications, and retail in Ontario (as the province begins to accept retail license applications in January).

“The addition of CCI’s experienced team increases our capacity to deliver end-to-end consulting services to our cannabis clients in Canada and around the world,” said Poonam Singh, managing partner of risk advisory for Deloitte. “As the cannabis ecosystem continues to develop, businesses will become more complex, particularly in the area of regulatory and compliance in cannabis. CCI’s knowledge will help clients untangle these challenges to allow their businesses to grow and thrive.”