A Key Piece to the Puzzle: Verano Holdings CEO George Archos Discusses AltMed Merger


<![CDATA[Multistate cannabis operator Verano Holdings announced earlier this month that it would acquire and combine operations with AltMed in Florida and Arizona in a merger that will form one of the largest private cannabis companies in the U.S.Verano has vertically integrated operations in 12 states, with 17 Zen Leaf dispensary locations and 440,000 square feet of cultivation. The company produces a variety of cannabis products under the Encore Edibles, Avexia and Verano brands, and operates across both adult-use and medical markets.AltMed is a vertically integrated medical cannabis company with 27 dispensaries operating under the MÜV brand. The company also manages 220,000 square feet of cultivation space in Florida and 30,000 square feet in Arizona, where it is expanding by an additional 50,000 square feet to meet increased demand.When the transaction closes, the companies will operate eight cultivation facilities and 44 dispensaries under the Verano brand across 14 states, with plans for 32 additional retail locations.Here, Verano Holdings CEO George Archos shares insight into the strategy behind the merger, as well as how the two companies will integrate their operations to achieve their broader goals.Melissa Schiller: Why was AltMed an attractive acquisition target?George Archos: We call it more of a strategic merger. The founders of that company are staying on board. Florida and Arizona were two attractive markets for us, and we looked at everyone in the space and the AltMed team was one of the top performers in Florida. We have a similar culture. They have a great business [and] great people, so the fit was almost like Verano had built their business. They operate in a very similar fashion, so it was very intriguing for us. Both teams are very excited for the future. The teams are both staying on board from the Verano side and the AltMed side,…

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Source : A Key Piece to the Puzzle: Verano Holdings CEO George Archos Discusses AltMed Merger

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