TORONTO – RIV Capital Inc., an acquisition and investment firm with a focus on building a leading multistate platform with one of the strongest portfolios of brands in key strategic U.S. markets, and Cansortium Inc., a vertically integrated, multi-state cannabis company operating under the FLUENT™ brand, appointed David Vautrin as Chief Retail Officer of RIV Capital, effective June 18, 2024. David will initially oversee retail and wholesale operations in New York, ahead of the anticipated completion of the previously announced business combination with Cansortium, upon which time it is expected that he will assume responsibility for the combined company’s retail footprint.
A seasoned CPG professional with deep cannabis experience, David joined Harbour Community as an investor and active Operating Partner in New York in 2022. Over the following 18 months, Harbour and its license partners secured licenses, locations, developed the Travel Agency branding, and opened three prime retail locations including Union Square, Downtown Brooklyn and, most recently, Fifth Avenue. Prior to this, Mr. Vautrin was instrumental in launching CannaRoyalty, which operated in California as Origin House. Origin House was a vertically integrated operator, which included cultivation, extraction, processing, manufacturing, and distribution of 50+ third party and owned brands to over 500 dispensaries in California, which was acquired by Cresco Labs in 2020.
“David is one of the most respected cannabis professionals in New York state,” said Mike Totzke, COO and interim CEO of RIV Capital. “We are thrilled to benefit from his unique coast-to-coast experience and deep expertise in brand building, retail operations and wholesale distribution. David will lead our New York retail operations and support wholesale relationships in the state, a pivotal role as our adult-use operations expand, and we prepare for the anticipated opening of two additional adult-use retail locations later this year. We started 2024 strongly with the successful launch of our first co-located adult-use and medical retail store in White Plains and this proved to be the right time and right opportunity to take our next step into becoming an established multi-state operator through our agreement with Cansortium. Together we will operate in several key states which have yet to fully realize their market potential, and the addition of David significantly bolsters our talented executive team as we leverage this strategic operating footprint to become one of the leading cannabis operators in the country.”
“I am incredibly proud to be joining the RIV team at this transformative moment in the Company’s history,” said David Vautrin, CRO of RIV Capital. “With their roots and commitment to New York the launch of their adult-use operations was a tremendous achievement. I share their belief that the New York market will grow into one of the most exciting in the country, and we’ve only just begun to unlock its potential. With several key developments on the horizon and the upcoming transaction with Cansortium, I believe this will be a thrilling year for the Company and I am excited to be a part of the journey.”
About Cansortium
Cansortium is a vertically-integrated cannabis company with licenses and operations in Florida, Pennsylvania and Texas. The Company operates under the FLUENT™ brand and is dedicated to being one of the highest quality cannabis companies for the communities it serves. This is driven by Cansortium’s unrelenting commitment to operational excellence in cultivation, production, distribution and retail. The Company is headquartered in Tampa, Florida.
About RIV Capital
RIV Capital is an acquisition and investment firm with a focus on building a leading multistate platform with one of the strongest portfolios of cannabis brands in key strategic U.S. markets. Backed by in-house expertise and cannabis domain knowledge, RIV Capital aims to grow its own brands and partner with established U.S. cannabis operators and brands to bring them to new markets and build market share. RIV Capital established the foundational building blocks of its active U.S. strategy with its previously announced acquisition of Etain. Through its strategic relationship with The Hawthorne Collective, Inc., a subsidiary of The ScottsMiracle-Gro Company, RIV Capital is The Hawthorne Collective’s preferred vehicle for cannabis-related investments not under the purview of other ScottsMiracle-Gro subsidiaries.
