Jushi Holdings Announces Three Acquisitions Totalling $137 Million

In #finance, Jushi Holdings goes on a #buying spree, announcing three #acquisitions worth approximately 137 #million #dollars. In the largest of the recent deals, the #Florida-based multistate operator agreed to purchase vertically-integrated Nature’s Remedy of #Massachusetts for 110 million dollars, marking their entry in their 7th state market. Under terms of the transaction, Jushi will pay 40 million dollars in cash, 55 million in subordinate #voting shares, a 5 million dollar #promissory note, and an additional 10 million in #stock based on certain conditions. Through the deal, they will gain 2 #adult-use #dispensaries, a 50,000 square foot #cultivation and processing center in #Lakeville, as well as 10 acres of land and a provisional grow license in Grafton. The news came a day before Jushi announced plans to buy one of 34 licensed #Ohio #MMJ cultivators, OhiGrow, for 5 million dollars in #cash. The acquisition includes 1.4 #acres and a 10,000 square-foot Toledo grow facility that is expected to provide biomass for a soon-to-open manufacturing plant, to which Jushi already provides operational and consulting services. According to company #CEO Jim Cacioppo, Jushi will continue to pursue #vertical integration in Ohio, with plans to explore potential retail opportunities. This follows their 22 million dollar purchase of a expansive 93,000 square-foot facility, run by their subsidiary, cannabis #pharmaceutical processor Dalisto, and 9 acres of surrounding land in Prince William County, #Virginia. Jushi currently owns 17 dispensaries under the Beyond/Hello #brand name, and various cultivation, #manufacturing, and processing operations across 6 states. Their announced acquisitions are expected to close over the second to fourth quarters of this #year.

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William Bradley

William Bradley

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