A Cannabis Consolidation Binge Is Creating Top Tier Companies Two more major deals were announced on Tuesday.
As the year comes to a close, the cannabis industry is on a consolidation binge. Two big deals were announced today piling on after last week s big move by Aphria (APHA) and Tilray (TLRY) . Ayr Strategies (AYRWF) is buying Liberty Health Science (LHSIF) in a deal valued at $290 million, and Columbia Care (CCHWF) is buying privately-held Green Leaf Medical in a deal valued at $240 million.
Ayr Strategies
Florida
Ayr Strategies has grown quickly through acquisition and this latest purchase gets the company exposure in two of the three best medical markets in the country. The all-stock deal for Liberty is valued at $290 million. In this transaction, Ayr will be getting Liberty s 387-acre cultivation campus in Gainesville, FL with over 300,000 sq. ft. of current production facilities in operation, 28 open retail dispensaries, seven completed and ready-to-open dispens
December 20, 2020 at 10:59 am
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The American cannabis industry is ending 2020 on a high note, with strong growth, easier access to equity and debt capital and expanding opportunities as more states legalize. There are now 9 multi-state operators with market caps above $1 billion, with more on the way through newly public companies that will begin trading in Q1. Investors are excited by the growth, and we are already seeing several companies use M&A to supplement strong organic growth. Some recent examples include Jushi Holdings, Trulieve and Ayr Strategies making acquisitions in Pennsylvania, Ayr Strategies also entering Ohio and Arizona through acquisitions, TerrAscend entering the Marylan
Ayr Strategies Moves to Definitive Merger Agreement with Parma Wellness Center, LLC
Ayr Strategies Moves to Definitive Merger Agreement with Parma Wellness Center, LLC
TORONTO, Dec. 18, 2020 Ayr Strategies Inc. (CSE: AYR.A, OTCQX: AYRSF) (“Ayr” or the “Company”), a vertically-integrated cannabis multi-state operator (MSO), has moved to a Definitive Merger Agreement from Letter of Intent with the management company of Parma Wellness Center, LLC (“Parma”). The Merger Agreement is subject to approval by the Ohio Department of Commerce.
As previously announced on October 1, 2020, Ayr intends to purchase 100% of the membership interests of the management company of Parma and associated real estate for total purchase consideration of US$17 million in cash. The purchase consideration will be allocated as $13 million for the management company interests and $4 million for real estate.
Ayr Strategies Inc. (CSE: AYR.A) (OTCQX: AYRWF) has signed a definitive merger agreement with the management company of 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. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to:
Ayr Strategies Inc. (CSE: AYR.A) (OTCQX: AYRWF) has signed a definitive merger agreement with the management company of 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. Read More. Don t Miss Any Updates! News Directly in Your Inbox Subscribe to: