Columbia Care Signs Definitive Agreement to Acquire Green Leaf Medical

Cannabtimes

<![CDATA[NEW YORK–(BUSINESS WIRE)–PRESS RELEASE–Columbia Care Inc. has signed a definitive agreement to acquire Green Leaf Medical, LLC, a privately held, fully-integrated cannabis multi-state operator (MSO) based in the mid-Atlantic region, for approximately $240 million with the potential for additional performance-based milestone payments.Following the close of two acquisitions that established Columbia Care as a market leader in the two largest cannabis markets in the world, California and Colorado, the acquisition of Green Leaf expands Columbia Care’s operational scale and footprint in four key, limited license markets by materially enhancing the scale and capabilities of its seed-to-sale operations. Subject to the regulatory approval process, Columbia Care will be one of the largest and most efficient operators in Pennsylvania, Maryland, Ohio and Virginia. Founded in 2014 by Philip Goldberg and Kevin Goldberg, Green Leaf is one of the largest private MSOs in the United States and a market leader in the Mid-Atlantic region with cultivation, extraction, processing and retail operations across its four-state footprint. In addition to its dispensary footprint, Green Leaf also brings a leading wholesale market position in both Pennsylvania and Maryland, where its products are most widely sold under its nationally recognized gLeaf brand, including extracts and pre-rolls. Green Leaf facilitates online ordering, its operational home delivery services in Maryland and Virginia, and proprietary inventory and order management capabilities via its gLeaf Marketplace platform.“This combination affirms Columbia Care’s position as one of the largest cultivators, manufacturers and retailers in four key states – Pennsylvania, Virginia, Ohio and Maryland – three of which are expected to convert from medical to adult use in the next 24 months. Green Leaf complements our retail footprint and brings wholesale leadership through which we can drive our portfolio of brands and unique products. The transaction is immediately accretive to gross margin, Adjusted EBITDA and Cash…

Excerpt only …
READ MORE BELOW
Source : Columbia Care Signs Definitive Agreement to Acquire Green Leaf Medical

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.