ceres holdings group

Dealmaking in the frenzied cannabis market continues to flourish with the latest megadeal announced Thursday. Investors aim to build a Coca-Cola or Hershey of marijuana, launching the first national pot brand in the United States.

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Ceres Group Holdings is becoming corporate America's biggest cannabis dealmaker out of its Century City offices.

The venture and private equity firm this week announced that its special purpose acquisition company, or SPAC, would take Atlanta-based cannabis producer Parallel public in a merger that will value the Canadian-listed company at $1.88 billion.

Parallel has about 42 retail stores outside of California, but has big plans for a big expansion into L.A. sometime in the next year or two.

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