Jushi Buys Nature’s Remedy in $110 Million Deal
Nature’s Remedy currently operates two retail dispensaries
Jushi Holdings Inc. (OTCMKTS: JUSHF) is buying a vertically integrated single state operator in Massachusetts called Nature’s Remedy of Massachusetts, Inc. in a deal valued at $110 million. The acquisition is expected to close in the second half of 2021. Nature’s Remedy currently operates two retail dispensaries, in Millbury, MA and Tyngsborough, MA, and a 50,000 sq. ft. cultivation and production facility in Lakeville, MA with approximately 19,500 sq. ft. of high-quality indoor flower canopy and state-of-the-art extraction and manufacturing capabilities.
“We are excited to announce that we have signed a definitive agreement to acquire Nature’s Remedy, a vertically integrated business operating high-quality, well-managed assets in Massachusetts,” said Jim Cacioppo, Chief Executive Officer, Chairman, and Founder of Jushi. “Our entrance into Massachusetts will mark the seventh state where we operate cannabis assets and the third state where we are vertically integrated. This acquisition will enable us to rapidly build scale in an important, maturing adult-use market with a defensible retail position and a solid cultivation footprint with significant opportunities to expand.”
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