Multistate operator MariMed recently locked down two new acquisitions: Kind Therapeutics, in Maryland, and Green Growth, in Illinois. Multistate operator MariMed recently locked down two new acquisitions: Kind Therapeutics, in Maryland, and Green Growth, in Illinois. The company, which already had a footprint in Maryland through other licensed business acquisitions, had been eyeing Kind Therapeutics for the past few years. MariMed owned Kind’s cultivation and production facility in Hagerstown, as well as a 6,000-sq.-ft. building in Anne Arundel County that was being developed as a Kind Therapeutics dispensary location. Kind had been leasing those facilities from MariMed. The intention now is to expand those Kind operations and layer them into MariMed’s existing Maryland infrastructure. For instance, at the cultivation site, MariMed plans to add another 40,000 square feet of canopy, as well as a GMP kitchen for cannabis edibles. Some 630 miles to the west, the newly closed Green Growth acquisition will allow MariMed to vertically integrate its cannabis operations in Illinois. Green Growth held cultivation, manufacturing and distribution licenses; MariMed had only claimed a retail license in that state until this point.
Posted Eric Sandy, Cannabis Business Times, 05/05/2022 13:57:00