Business Analysis Review

Published on 06/08/2024

Cultivators is a leader in cultivation business analysis, specializing in investments in new projects, enhancement of existing facilities, and mergers and acquisitions of large-scale cultivation operations. With our comprehensive expertise in market analysis, facility setup, development, and cultivation practices, we provide valuable insights into the requirements and potential pitfalls of successful growing operations.

Our focus is on cultivation parameters, which are crucial for the success and ROI of any cultivation facility. We emphasize benchmarking agronomical and financial metrics, with a particular focus on yield numbers about growing area and investment and operational cost structure. Additionally, we carefully assess large capital expenditure (CapEx) decisions and their impact on cultivation efficiency, as well as the resulting effects on operational expenditure (OpEx).

Our team offers strategic guidance grounded in data-driven insights, expert insights, industry benchmarks, and thorough analysis of facility management and organizational structure. Whether you are looking to invest in new ventures or improve current operations, Cultivators delivers tailored solutions to meet your unique needs and objectives.Some case examples:

New Facility Due Diligence: Business Plan and Facility Design Review

Case 1: Investment in a new State-of-the-Art Leafy Greens Facility

Cultivators conducted a comprehensive due diligence review for a New York-based multibillion-dollar investment firm considering an investment in a new growing facility for hydro leafy greens. Our analysis focused on the business plan, market strategy, greenhouse, and system setup, as well as management and organizational structure. The due diligence process led to the optimization of the business plan and facility design, resulting in an actual investment of over $50 million.

Case 2: Establishment of a Multi-Facility Fresh Produce Investment Fund

We performed a detailed review of the business plan and facility design for one of the Big Four accounting firms in North America, which was exploring a new facility investment for hydroponic lettuce. Our team analyzed the greenhouse and system setup, portfolio management, and organizational structure for creating an investment fund. The due diligence process optimized the business proposition, leading to the establishment of a $100 million fund in North America, which invests in multiple operations.

M&A Due Diligence: Process Guidance, Interim Management, and Analysis

Case 1: Acquisition of Indoor Cannabis Production Facilities

Cultivators facilitated the acquisition process for one of the largest corporate companies in the global cannabis industry, focusing on indoor facilities for medicinal and recreational cannabis production. We conducted a thorough analysis of the facilities, assessed company valuations, and provided interim management post-transition. After a year, the two companies were successfully sold through Cultivators.

Case 2: Due Diligence for a Major European Indoor Cannabis Facility Acquisition

We are currently conducting due diligence for one of the largest indoor cannabis facilities in Europe on behalf of a client. Our analysis includes a full evaluation of the hardware, cultivation, and climate systems to determine cultivation potential and company valuation. The acquisition process is ongoing and is likely to result in a successful transaction.

Cultivators’ Due Diligence Focus Areas

At Cultivators, our due diligence process is tailored to meet the specific needs of each case, providing comprehensive insights and analyses. Our approach commonly focuses on the following key areas:

Our comprehensive reviews provide expert insights and a critical assessment of the current cultivation situation or plans. We also offer an overview of potential alternatives in facility design and organization, assessing their impact on overall projected company results.

Our partner client base consists of global investment firms, accountancy firms, and banks:

As well as leading cultivation groups:


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