Columbia Care Acquiring MSO Green Leaf Medical for $240 Million
In the second marijuana sector acquisition announced in the past week, Columbia Care (OTC: CCHWF) has agreed to buy a privately held peer, Green Leaf Medical. The up-front price is roughly $240 million, with potentially more to come if certain unspecified performance-based milestones are reached in 2022 and 2023.
Like Columbia Care, Green Leaf Medical is a vertically integrated multi-state operator (MSO) with cultivation/production and retail assets in the mid-Atlantic region. Once consummated, the deal will strengthen Columbia's presence in four markets in which it already operates -- Virginia, Maryland, Pennsylvania, and Ohio.
The company believes that of these states, which currently permit only medical marijuana, three will legalize recreational consumption and sale too within the next two years.
Source Fool.com
