M&A Deal Summary

Ayr Acquires Ohio Medical Solutions

On March 31, 2021, Ayr acquired consumer products company Ohio Medical Solutions from Vireo Growth for 1M USD

Acquisition Highlights
  • This is Ayr’s 2nd transaction in the Consumer Products sector.
  • This is Ayr’s 9th largest (disclosed) transaction.
  • This is Ayr’s 6th transaction in the United States.
  • This is Ayr’s 2nd transaction in Ohio.

M&A Deal Summary
Date 2021-03-31
Target Ohio Medical Solutions
Sector Consumer Products
Buyer(s) Ayr
Sellers(s) Vireo Growth
Deal Type Divestiture
Deal Value 1M USD

Target

Ohio Medical Solutions

Coshocton, Ohio, United States
Ohio Medical Solutions holds a Certificate of Operation in Ohio for the processing of medical marijuana and manufactures cannabis-based products in a 9,000 ft2 processing facility.

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Buyer(S) 1

Buyer

Ayr

Miami, Florida, United States
Category Company
Founded 2017
Sector Agriculture
Employees2,500
Revenue 464M USD (2023)
DESCRIPTION

Ayr is a cannabis operator focused on delivering quality cannabis products and customer experience throughout its footprint. Based on the belief that everything starts with the quality of the plant, the Company is focused on superior cultivation to grow superior branded cannabis products. Ayr strives to enrich consumers’ experience every day through the wellness and wonder of cannabis. Ayr was founded in 2017 and is based in Miami, Florida.

DEAL STATS #
Overall 6 of 12
Sector (Consumer Products) 2 of 5
Type (Divestiture) 1 of 1
State (Ohio) 2 of 3
Country (United States) 6 of 12
Year (2021) 2 of 6
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Garden State Dispensary

Woodbridge Township, New Jersey, United States

Garden State Dispensary is a cultivator of medicinal cannabis to relieve resistant symtoms, due to certain chronic conditions. Garden State Dispensary is based in Woodbridge Township, New Jersey.

Buy $101M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-20 Herbal Remedies

Quincy, Illinois, United States

Herbal Remedies is an operator of two licensed cannabis dispensaries. Herbal Remedies is based in Quincy, Illinois.

Buy -

Seller(S) 1

SELLER

Vireo Growth

Minneapolis, Minnesota, United States
Category Company
Sector Agriculture
Employees385
Revenue 88M USD (2023)
DESCRIPTION

Vireo Growth is a science-focused, multi-state cannabis company. Vireo cultivates cannabis in environmentally-friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. Vireo Growth is based in Minneapolis, Minnesota.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Products) 1 of 1
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-22 Pennsylvania Medical Solutions

Scranton, Pennsylvania, United States

Pennsylvania Medical Solutions holds a permit for the cultivation and processing of medical cannabis in the state of Pennsylvania. Based in Scranton, PAMS operates a 90,000 sq. ft. facility with approximately 45,000 sq. ft. of high-quality, indoor cultivation when construction is complete. The Permittee’s property can further accommodate an additional 25,000 sq. ft. of indoor cultivation bringing the total to 70,000 sq. ft.

Sell $37M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-09 Charm City Medicus

Baltimore, Maryland, United States

Charm City Medicus runs a clean, law-abiding, professional, and non-disruptive medical cannabis dispensary in Dundalk, Maryland.

Buy -
Mergr

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