Columbia Care Inc. announced it will buy The Green Solution (TGS) in an all-stock deal that is expected to close on September 1, 2020. The company did not disclose the size of the deal. Recently, Columbia Care stock jumped over 7% on the news to sell at $3.68. Colorado-based TGS is said to have unaudited revenue through July 2020 of $52.7 million, which would be a year-over-year increase of 29% compared to 2019. Columbia Care said the deal would be immediately accretive to Columbia Care’s Adj. EBITDA and, in combination with Columbia Care’s rapidly improving margin and profitability profile, will accelerate the company’s transition to being Adj. EBITDA positive in the third quarter of 2020.
Sharani Marie, Green Market Report, 08/26/2020 11:31:22