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MedMen Buys Oak Park Illinois Based Dispensary

The acquisition of Seven Point comes as the state expands medical marijuana eligibility

A national cannabis company has purchased a Chicago-area dispensary following the passage of a law that positions marijuana as an opioid alternative.

Los Angeles-based MedMen Enterprises yesterday announced it has acquired Seven Point, a licensed medical cannabis dispensary in Oak Park that opened in 2015, according to a statement.

Financial terms of the deal were not disclosed. MedMen said in the statement it will pay a combination of cash at closing, deferred cash and shares of the company. The transaction, which is subject to state approval, is expected to close within 90 days. A MedMen spokesperson was not available to comment.

 

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