Parma Wellness Center LLC in a deal worth $17 million in cash.
The agreement requires authorization from the Ohio Department of Commerce.
The multi-state cannabis operator, or MSO, seeks to acquire 100% of the membership interest of the Parma’s management company and related real estate. The $17 million will be divided with $13 million set for the management company interest and the remaining $4 million for real estate.
The transaction is expected to close during the first quarter of the following year.
Parma owns a provisional level 1 medical marijuana cultivator license, with original building plans for 25,000 sqare feet of canopy in a 58,000 square-foot building, which Ayr may later further advance, upon attaining necessary authorizations.