
#148 - How CAM Built a $73M California Cannabis Brand with Anna Willey
In a California market defined by ruthless price compression and distressed assets, how does a quiet operator scale to $73M in retail sales while commanding nearly double the average market price?About This EpisodeIn this solo-hosted episode, AnnaRae Grabstein sits down with Anna Willey, Founder and CEO of California Artisanal Medicine (CAM). Anna reveals the operational strategy behind building California's #2 branded flower line, why she completely avoids buying distressed assets, and how CAM maintains high margins through tight distribution control and vertical integration. Before the conversation, AnnaRae breaks down the week's biggest headlines, including Curaleaf’s unsolicited takeover bid for Aurora Cannabis and new federal hemp beverage legislation.What You’ll LearnThe "Everyday Value" Pricing Strategy: How CAM holds a $7.50/gram average without relying on deep retailer discounting or race-to-the-bottom pricing.In-House Distribution vs. 3PLs: Why managing their own 12-van distribution fleet keeps operational costs down to just 3% of sales.Why Distressed Assets Are a Trap: The real financial and human costs of buying struggling cultivation facilities instead of building from scratch.The Inter-State Commerce Long Game: How CAM is quietly positioning its massive 2,500-light Sacramento footprint for future federal rescheduling and state-to-state shipping.Meet the GuestAnna Willey is the Founder and CEO of CAM (California Artisanal Medicine). A pioneer in the space, she opened one of Colorado's first dispensaries in 2009 as the first female dispensary owner in the state. After launching CAM in California in 2018, she has grown the company into the #2 flower brand in the state with over $73 million in annual retail sales and a 2,500-light cultivation footprint in Sacramento.Why Tune In?If you are an operator, executive, or investor trying to figure out how to build a profitable, debt-free cannabis brand in the country's most competitive market, this episode offers a masterclass in disciplined growth, real estate strategy, and operational execution.Have a question for us? Send us a text. We may answer it in the next show!--High Spirits is brought to you by Vertosa and Wolf Meyer.Your hosts are Ben Larson and AnnaRae Grabstein.Follow High Spirits on LinkedIn. We'd love to hear your thoughts. Who would you like to see on the show? What topics would you like to have us cover? Visit our website www.highspiritspod.com and listen to all of our past shows.THANK YOU to our audience. Your engagement encourages us to keep bringing you these thought-provoking conversations. Remember to always stay curious, stay informed, and most importantly, keep your spirits high.









