Green Thumb Industries (GTI) Inc. is buying Virginia-based Dharma Pharmaceuticals LLC for an undisclosed amount. the acquisition is expected to close in the second half of 2021. Dharma was the first operator to provide medical products to Virginia’s patients in 2020 and is strategically positioned to scale in the emerging adult-use market. Last month, Virginia became the first Southeastern state in the United States to legalize adult-use cannabis after the Virginia General Assembly approved legislation. GTI has been rapidly expanding throughout the U.S. Once this deal is closed, the company will have a presence in 13 markets: California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, Pennsylvania, and Virginia. GTI noted that as one of only five licenses in the Virginia medical cannabis market, Dharma is licensed to grow, process, and retail cannabis directly to consumers.
Sean Hocking, Cannabis Law Report, 05/03/2021 14:40:00