Dispensary 33 selling pot shops to publicly traded weed giant in $55 million deal

Share on facebook
Share on twitter
Share on linkedin

A Florida-based pot giant is planning to purchase a pair of popular Chicago weed stores in a blockbuster $55 million deal, sources told the Chicago Sun-Times on Sunday.

Dispensary 33’s two shops in Uptown and West Town are being sold to Miami-based Ayr Wellness, which grows and sells cannabis across multiple states and trades publicly on the Canadian Securities Exchange and the U.S. “penny stocks” market. A public announcement was expected Monday morning.

The terms of the deal include $40 million in stock, $12 million in cash and $3 million in seller’s notes, according to a source close to Ayr. The move comes four months after Ayr announced plans to establish a foothold in Illinois with a $30 million acquisition of two Herbal Remedies Dispensaries in downstate Quincy. []

Source: Dispensary 33 selling pot shops to publicly traded weed giant in $55 million deal – Chicago Sun-Times

Create Your First Campaign with Flowershop

RECENT NEWS ITEMS

Join our network of 2,500+ marketers and agencies, and get the latest articles in your inbox every week.