Verano Holdings Corp. (OTCQX:VRNOF) announced Monday that it wiil acquire significant assets from The Cannabist Company Holdings Inc. (Cboe CA: CBST) (OTC:CBSTF) (FSE: 3LP). The acquisition, strategic to expanding its national footprint, includes one of Cannabist's Virginia licenses, along with associated operations including all of Arizona operations.
Expanding Operations In Virginia And Arizona
The acquisition in Virginia encompasses a cultivation and production facility plus six dispensaries, positioning Verano as the exclusive cannabis operator for Health Service Area 5, which includes populated areas like Virginia Beach and Norfolk. The deal is poised at $90 million, with payment structured as $20 million cash, $40 million in Class A subordinate voting shares and a $30 million promissory note.
Meanwhile, Verano will add one cultivation facility, one production facility and two dispensaries in Arizona, boosting its total cultivation space in the state to 90,000 square feet. This expansion, costing $15 million payable in cash, increases Verano's presence to eight dispensaries across Arizona.
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Verano, Cannabist Execs Discuss Strategic Acquisition
"Today's agreement further diversifies Verano's portfolio, which, since the company's inception, has remained focused on expanding our business into limited-license markets to scale both our wholesale and retail operations," stated George Archos, Verano's chairman and CEO, in a press release. "This opportunity greatly increases Verano's growth trajectory as we gain access to the coveted market of Virginia ahead of an adult use program and deepens our footprint in Arizona."
From The Cannabist Company's perspective, the deal allows it to optimize the company's operations while focusing on remaining assets in Virginia and preparing for future endeavors. "We are pleased to have reached an agreement and look forward to welcoming Verano to the robust Virginia market," stated David Hart, CEO of The Cannabist Company. "We are so proud of what our Eastern Virginia and Arizona teams have accomplished and look forward to seeing the Verano team support their continued successes."
Verano Expands Footprint Across 14 States
Subject to regulatory approvals, this deal promises to strategically position Verano ahead of Virginia's anticipated adult-use cannabis program and expand its operational scale in Arizona. With this acquisition, Verano's operational footprint will span 14 states with 15 cultivation sites and 150 dispensaries, marking important growth of its national cannabis market influence.
VRNOF Price Action
At market close on Monday, VRNOF's shares traded at $3.95 per share.
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Verano Holdings Corp. (场外交易:VRNOF)周一宣布,将从The Cannabist Company Holdings Inc. (Cboe CA: CBST) (场外交易:CBSTF) (FSE: 3LP)收购重要资产。此次收购对扩大其全国版图至关重要,其中包括Cannabis在弗吉尼亚的许可证和相关运营,以及所有亚利桑那运营。
在弗吉尼亚和亚利桑那扩大业务
在弗吉尼亚,该收购计划涵盖一个栽培和生产设施以及六个药房,使 Verano 成为 Health Service Area 5 的独家大麻运营商,该地区包括像弗吉尼亚海滩和诺福克这样的人口密集地区。这笔交易的价格为 9000 万美元,其中 2000 万美元是现金,4000 万美元是 A类从属投票股股份,还有 3000 万美元的 promissory note。
此外,Verano将在亚利桑那州增加一个种植设施,一个生产设施和两家药店,将其在该州的种植面积提高至90,000平方英尺。这一扩张项目需支付1500万美元现款,使Verano在亚利桑那州的门店总数增至八家。
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Verano 和 Cannabist 的高管们讨论了战略性收购。
“今天的协议进一步使Verano的投资组合多样化,自公司成立以来,一直专注于将我们的业务拓展到有限许可市场,以扩大批发和零售业务,”Verano董事长兼首席执行官乔治·阿科斯在新闻稿中表示。“这一机会极大地提高了Verano的增长轨迹,因为我们将获得瓦吉尼亚备受追捧的市场,加深了我们在亚利桑那州的影响力。”
从 The Cannabist Company 的角度来看,这次交易允许其优化公司的运营并专注于其在弗吉尼亚州的资产和未来的计划。The Cannabist Company 的首席执行官 David Hart 表示:“我们很高兴达成协议,并期待欢迎 Verano 进入强大的弗吉尼亚州市场。我们为我们在东弗吉尼亚和亚利桑那的团队取得的成就感到自豪,并期待看到 Verano 团队支持他们不断取得的成功。”
Verano 在 14 个州扩大足迹。
在获得监管批准的前提下,此项交易承诺将使Verano战略性地领先于弗吉尼亚州即将启动的成年人使用大麻计划,并在亚利桑那州扩大其运营规模。通过这次收购,Verano的运营范围将覆盖14个州,拥有15个种植场和150家药店,标志着其在国家大麻市场影响力的重要增长。
VRNOF 价格走势
周一收盘时,VRNOF 的股票价格为每股 3.95 美元。
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