MSO Columbia Care said it would acquire venerable Colorado operator Medicine Man Denver for $42M in cash and stock.
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- The deal will enlarge New York-based Columbia Care’s position in the country’s second largest market. Last year the company completed its acquisition of Colorado-based retailer The Green Solution.
- Columbia Care said the deal would be “immediately accretive.” For Q1, the acquisitive company posted revenue of $86M and a net loss of $15.3M.
- The announcement comes soon after Columbia Care rival Curaleaf acquired Colorado outdoor grower Los Suenos.
- Medicine Man’s consulting arm, Medicine Man Technologies previously ended its relationship with Medicine Man and rebranded as Colorado operator Schwazze.
RELATED: In a tight jobs market, cannabis companies are scrambling to hire hourly employees.
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Quick Hits
- Within a few weeks, Las Vegas “dispensary complex” Planet 13 is opening what it says will be the largest pot shop in California, in Orange County. It will feature “plenty of shareable Instagram moments, from colorful umbrellas on the ceiling to a large LED waterfall wall and a giant red octopus in the center of the store.”
Spectrum News - CBD company Charlotte’s Web named a former Molson-Coors exec CFO.
