Farmer's Wife marijuana company changes hands

The Farmer's Wife, a local marijuana company that was one of the first in Missouri approved to operate cannabis dispensaries, has changed hands.

Ann Arbor, Michigan-based C3 Industries took over the state dispensary licenses for The Farmer's Wife in January after the deal was approved by the Missouri Department of Health and Senior Services' Division of Cannabis Regulation in November, said Lisa Cox, communications director for the DHSS. Cox said C3 Industries now owns the licenses via RR Missouri LLC.

The ownership transfer comprises one dispensary location apiece in Springfield, Mountain Grove and West Plains, according to DHSS data.

Ellen Mellody, senior vice president of public relations for New York City-based KCSA Strategic Communications, confirmed via email the acquisition on behalf of C3 Industries. The financial terms were undisclosed.

The Farmer's Wife was among the initial recipients of medical marijuana dispensary licenses in 2020 via OWG I LLC, according to past Springfield Business Journal reporting. State voters approved the legalization of medical marijuana in 2018, followed by recreational marijuana in 2022.

OWG I LLC is registered with the Missouri secretary of state's office by Stephanie Montgomery, the former name of Stephanie Stenger, a local real estate developer and attorney. Stenger, who deferred comment on The Farmer's Wife deal to the buyer, also previously registered OWG II, III and IV with the secretary of state’s office.

Stenger spoke to the ownership transfer in a recent interview with SBJ Executive Editor Christine Temple for the No Ceiling podcast. She said she was the public face of The Farmer’s Wife ownership group that included undisclosed partners.

"We officially sold our stores at the end of the year," Stenger told Temple in the interview. "We sold our license."

C3 Industries is in the midst of rebranding The Farmer's Wife to High Profile, one of its dispensary brands. C3 Industries is a vertically integrated cannabis company with operations in four states, according to its website. The company was founded in 2018 by brothers Ankur and Vishal Rungta, along with their longtime friend and partner Joel Ruggiero.

A Facebook post from the Springfield store indicated the store has been rebranded to High Profile, with a grand opening planned March 15.

In addition to Springfield, High Profile has Missouri dispensaries in Cape Girardeau, Columbia, Mountain Grove, St. Charles, St. Louis, St. Robert and West Plains, according to its website.