Verano Enters Connecticut Cannabis Market with Vertical Integration Ahead of Adult-Use Transition

CANNANNEW REPORT

Verano consummated the acquisition of Willow Brook Wellness, LLC, which holds an active dispensary in Meriden, Connecticut. Additionally, Verano has entered into definitive agreements to acquire both Caring Nature, LLC, which holds an active dispensary in Waterbury, Connecticut, and Connecticut Pharmaceutical Solutions, Inc., which holds an operating cultivation and production facility. These acquisitions are expected to be immediately accretive and accelerate vertical integration for Verano in Connecticut, one of the most recent states to pass adult-use legislation, further expanding the Company’s East Coast hub and complementing Verano’s vertically integrated regional operations in Pennsylvania, New Jersey, Maryland, and Massachusetts. The Connecticut acquisitions will expand Verano’s national footprint to 89 active1 dispensaries across 12 states, 10 of which are vertically integrated, while surpassing the 1,000,000 sq. ft. mark of total cultivation capacity. CHICAGO, Nov. 10, 2021 (GLOBE NEWSWIRE) — Verano Holdings Corp. (CSE: VRNO) (OTCQX: VRNOF) (“Verano” or the “Company”), a leading multi-state cannabis company, today announced it has entered into multiple agreements to acquire all of the issued and outstanding equity interests of Caring Nature, LLC and Connecticut Pharmaceutical Solutions, Inc., along with the closing of its acquisition of Willow Brook Wellness, LLC. Caring Nature owns an active dispensary in Waterbury, CT; Connecticut Pharmaceutical Solutions owns an operating cultivation and production facility in Rocky Hill, CT; and Willow Brook Wellness holds an active dispensary in Meriden, CT. Collectively, these acquisitions expand Verano’s presence on the East Coast with the addition of vertically integrated operations in the attractive Connecticut market. “We are excited about the continued expansion of both our national platform and our East Coast hub. Entering the Connecticut market ahead of its adult-use transition provides a clear runway for sustainable, long-term growth,” said George Archos, Verano Founder and Chief Executive Officer. “These acquisitions are well-aligned with our broader growth strategy, and…

Excerpt only …
READ MORE BELOW
Source : Verano Enters Connecticut Cannabis Market with Vertical Integration Ahead of Adult-Use Transition

reposted by Cannabis News World

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