Cannabis company acquires CT dispensaries as state launches recreational pot program – CT Post
A multi-state cannabis company has closed one deal and signed two more to acquire three firms with marijuana dispensaries and a cultivation facility in Connecticut, according to an announcement this week.
Verano Holdings Corp., which has active operations in 12 states, closed its agreement with Willow Brook Wellness on Oct. 25. It signed agreements Wednesday to, if finalized, acquire Caring Nature and Connecticut Pharmaceutical Solutions Inc.
The move signals the Chicago-based company’s interest in entering Connecticut ahead of the launch of the state’s recreational-use program, after sales were legalized earlier this year. It’s one of several multi-state companies interested in the burgeoning Connecticut market.
Verano operates under brands such as Zen Leaf and MUV. It has East Coast operations in Pennsylvania, New Jersey, Maryland and Massachusetts
Willow Brook Wellness has a dispensary in Meriden, and Caring Nature has a dispensary in Waterbury. Connecticut Pharmaceutical Solutions has a cultivation and production facility in Rocky Hill.
The Connecticut Pharmaceutical acquisition includes $113.25 million in voting shares and $18.5 million more in “subordinate voting shares of the