MedMen said the credit line would be used to expand in strategic markets
Culver City-based pot retailer MedMen Enterprises Inc. is receiving an additional $30 million in credit from marijuana industry investor Gotham Green Partners, a New York-based private equity firm.
The additional funds come on top of a $250 million credit line provided by Gotham and come as MedMen continues to pursue a rapid expansion strategy. The company said the additional credit will be used to fund more store openings — a key to growth.
In Wednesday’s announcement, MedMen said Gotham Green Partners would partner with Chicago-based investment firm Wicklow Capital Inc. for the $30 million.
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