SAN FRANCISCO — Poseidon Investment Management, a leading investment firm in the cannabis industry, today announced the completion of a financing with Herb Haus, a social equity cannabis dispensary founded by Joe Kanegieser.
Herb Haus will be located in Carlstadt, New Jersey. Within walking distance of the Meadowlands Sports Complex, the dispensary will be conveniently situated near MetLife Stadium, Meadowlands Racing & Entertainment, Nickelodeon Universe Theme Park, American Dream Mall, and the New Meadowlands Flea Market.
“It’s been a long journey, and I couldn’t be happier to be in a position to bring Herb Haus to life with the help of Poseidon,” Kanegieser said.
Kanegieser won a social equity license as part of the third set of licenses awarded in May 2022 from the New Jersey Cannabis Regulatory Commission. Herb Haus was also selected by the New Jersey Economic Development Authority’s Cannabis Equity Grant Program.
New Jersey cannabis sales grew 25% in 2024 according to the New Jersey Cannabis Regulatory Commission. With approximately two-thirds of the state’s 564 municipalities prohibiting adult-use cannabis dispensaries, there are compelling opportunities for thoughtfully located dispensaries in high-traffic areas.
“This is an exceptional location that’s full of opportunity to introduce a very diverse set of customers visiting the Meadowlands Sports Complex to New Jersey’s finest state-legal cannabis,” said Patrick Rea, managing director at Poseidon. “Herb Haus will put customers first with a safe, efficient, and premium cannabis dispensary experience. We expect Herb Haus to become the highest performing store in the tri-state area.”
About Herb Haus
Herb Haus is a social equity cannabis dispensary just steps from the Meadowlands Sports Complex in Carlstadt, New Jersey. Founded in 2022, Herb Haus aims to provide a safe and secure space where cannabis lovers can connect, explore, and experience top-quality products in a laid-back, welcoming environment. The company’s priority is a positive customer experience that will build loyalty for years to come.
About Poseidon
Poseidon is a leading investor in the legal cannabis and hemp industries with over $100 million in assets under management. Poseidon and its affiliates have been active cannabis investors since 2013, deploying capital into nearly 200 businesses across various stages and verticals globally. The company has been actively involved in state and federal initiatives to drive reform in cannabis laws, including a recent judicial challenge to the Raich vs. Gonzalez SCOTUS case in partnership with Boies, Schiller, Flexner LLP.
