Matt LaBrier discusses the Proper merger with Vireo Growth

Proper Brands, one of Missouri’s most prolific home-grown cannabis brands, has announced a landmark merger with Vireo Growth Inc. The $397 million all-stock transaction will see Proper join a network that includes Deep Roots Harvest in Nevada and WholesomeCo Cannabis in Utah. 

While Proper gains access to national resources, it remains deeply rooted in Missouri, retaining its leadership team and brand identity according to leadership.

Matt LaBrier, COO and co-founder of Proper Brands, took time to discuss the merger and what it means for the company and the Missouri market with Greenway.

“It’s a very daunting process, pulling together this many groups of founders and their respective teams and attorneys all while keeping it confidential is very difficult. So we’re excited we’re through this part. Just getting through this phase is a testament to our new partners and our trust and belief in one another.” LaBrier said.

A Strategic Move for Growth

LaBrier explained the motivations behind the merger, highlighting the benefits of being part of a larger organization.

“Change is always difficult, and as you grow, you have to sort through where you fit in both locally and nationally, and we felt that this opportunity allowed us to stay true to our roots, while still elevating and having a presence in the national space,” he said. “Our ability to grow was reliant on self-funding, which limited how quickly we could scale. This merger allows us to access better and cheaper capital while connecting with like-minded peers in other states.”

Price compression in the cannabis industry is another factor Proper aims to address through this partnership. “It hasn’t hit Missouri as hard as other states yet, but we know it’s coming,” LaBrier said. “Having access to resources and relationships with top operators will help us navigate these challenges and continue to grow.”

The merger also fosters collaboration with peers like The Flowery in Florida, Deep Roots Harvest, and WholesomeCo Cannabis.

“We’ve met with these groups multiple times, and they’re the best in class in their respective states,” LaBrier said. “If we’re facing a challenge at our facility in Rock Hill, we can reach out to partners for insights. It’s about building a bigger family and helping one another grow.”

Preserving Identity and Quality

A critical aspect of the merger is maintaining Proper’s identity, LaBrier said.

“The genesis of this deal is that everybody gets to stay the same,” he emphasized. “We developed Proper from scratch. Our identity and values are intertwined with our brand. Changing that wasn’t something we were interested in, and our partners felt the same way about their brands.”

“We’ve built our reputation on consistency,” LaBrier said. “Our patients and customers have been with us from day one, and they rely on us for what we put in our jars. None of that will change. If anything, this deal helps us improve by learning from our peers and enhancing our processes.”

LaBrier also reassured employees and consumers that day-to-day operations would remain unchanged.

“We had a meeting with about 50 team members yesterday, and someone asked how this would impact us. The reality is that if the deal hadn’t been announced, most people wouldn’t notice a difference. Leadership doesn’t change, and nobody’s coming in to tell us to use machines to trim or cut costs by compromising quality.”

Opportunities for Collaboration and Innovation

The merger opens doors for introducing new products and expanding Proper’s offerings.

   

“We’ve already started discussing products that could fall under our branding,” LaBrier said. “For example, The Flowery’s hand rolls are excellent, and we’ve talked about bringing similar products to Missouri. This deal accelerates our ability to innovate and improve our product lineup.”

Collaboration across states also presents opportunities for Proper’s in-house brands, such as Honeybee. “Honeybee belongs on more shelves,” LaBrier said. “It’s a chef-driven, high-quality edibles brand, and we believe there’s a spot for it in markets beyond Missouri. While there are no immediate plans, this merger opens the door for those opportunities.”

Commitment to Community

Proper’s dedication to community engagement is as strong as ever. “We’ve always been vocal about our desire to support the communities we’re in,” LaBrier said. “We recently appointed an executive director for our charitable foundation, New Growth Horizon, and I anticipate 2025 will be our best year for community engagement.”

Through New Growth Horizon, Proper plans to strengthen its connection with local communities while leveraging the merger to enhance its social impact.

“This doesn’t change who we are,” LaBrier affirmed. “It gives us more resources to do what we’ve always done: support our employees, customers, and the communities we serve.”

Leveraging Resources for Future Growth

As Proper Brands enters this new chapter, its focus remains on growth and innovation. “We’re still a Missouri-focused company,” LaBrier said. “But this merger provides opportunities to expand within Missouri and explore new markets. It also allows us to grow our people as much as our brands.”

While Proper has been an active buyer in the Missouri market to this point, the company plans to continue to evaluate opportunities on a case-by-case basis, ensuring that growth aligns with its values.

“It’s never been about hitting specific numbers,” LaBrier said. “It’s about doing what’s right for the company and the people within it.”

The merger also positions Proper to adapt to emerging trends and influence the broader cannabis market. “Having access to partners like The Flowery, who work with unique brands that resonate with people, is invaluable,” LaBrier said. “Our focus is on getting better every day and maintaining the quality and consistency our customers rely on.”

While Proper’s number one priority is to remain Missouri-focused, the merger creates opportunities for national expansion.

“This deal gives us a chance to expose our people to new markets,” LaBrier said. “Even if it’s not under the Proper brand, it allows our team to grow and gain experience across states like Florida, Utah, and Nevada. We’re excited about what this means for our people and our company.”

LaBrier emphasized that any growth outside Missouri would complement Proper’s operations at home. “Our focus is to grow in Missouri while taking advantage of opportunities that align with our values and enhance what we do best.”

Brandon Dunn contributed to this story.