On Wednesday, Marijuana multistate operator Verano Holdings announced a definitive agreement to acquire Florida-based Alternative Medical Enterprises (AltMed) for an undisclosed price, creating one of the largest cannabis companies in the U.S. with 44 retail locations in 14 states. The merger gives Illinois-based Verano, which was active in 12 states before the deal, a strong presence in Florida’s rapidly growing medical marijuana market as well as a vertical license in Arizona, where an adult-use market was legalized on Election Day. Although company executives didn’t disclose the value of the deal, they indicated the transaction will mostly involve stock. The deal comes eight months after Verano and Arizona-based Harvest Health & Recreation terminated their mammoth, $850 million merger amid the coronavirus pandemic as well as financial and regulatory hurdles.

Marijuana Business Daily, 11/11/2020 06:30:42

Open article: https://mjbizdaily.com/private-multistate-marijuana-giants-verano-and-altmed-to-merge-creating-14-state-operator/