Chicago-based cannabis multistate operator Verano Holdings Corp. entered into an agreement with The Cannabist Co. to acquire the New York-headquartered MSO’s plant-touching operations in Arizona and Virginia.
Verano will pay $105 million in cash, stock and promissory notes to acquire properties in the two states, growing its footprint to 14 U.S. markets, according to a Monday news release.
ADVERTISEMENT
As part of the agreement, Verano will pay $15 million in cash for The Cannabist Co.’s Arizona operations, which include one cultivation site, one production facility and its only two marijuana retail stores in the state, in Prescott and Tempe.
The assets Verano is purchasing from The Cannabist Co. in Virginia include one cultivation site, one production facility and six stores.
Upon closing, Verano
Read full article on Marijuana Business Daily
