Florida-based marijuana grower and retailer Stem Holdings signed a deal to acquire California-headquartered cannabis delivery company Driven Deliveries. Officials report this deal has created what Stem calls “the first vertically integrated cannabis company with an integrated Delivery as a Service platform.” The all-stock transaction will be worth approximately 41.3 million Canadian dollars ($31.1 million), according to a news release issued Tuesday. The combined company will be called Driven by Stem and operate out of Stem’s current offices in Boca Raton. Stem said it expects the acquisition to be immediately accretive to its earnings and anticipates synergies in sales, operations, and selling, general and administrative expenses.
Marijuana Business Daily, 10/06/2020 12:24:49