Green Thumb Industries Enters Virginia Cannabis Market

44
1
AK&M 04 May 2021 20:00

Green Thumb Industries Inc., a leading national cannabis consumer packaged goods company and owner of Rise Dispensaries, May 3 signed a definitive agreement to acquire 100% of Dharma Pharmaceuticals LLC, expanding its cannabis distribution network into the Virginia cannabis market, as it was informed by Green Thumb.

Upon completion of the Acquisition, Green Thumb will have a presence in 13 markets: California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, etc.

The Acquisition includes an existing production facility and retail dispensary located in Abingdon, VA. Green Thumb will also maintain the opportunity to open up to five additional retail locations in the Commonwealth.

Completion of the Acquisition is subject to customary regulatory approvals and is expected to close in the second half of 2021.

Green Thumb Industries Inc., a national cannabis consumer packaged goods company and retailer, manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets.

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. Virginia became the first Southeastern state in the United States to legalize adult-use cannabis after the Virginia General Assembly approved legislation on April 7, 2021. As one of only five licenses in the Virginia medical cannabis market, Dharma is licensed to grow, process and retail cannabis directly to consumers.