M&A Deal Summary

Jushi Acquires Pennsylvania Medical Solutions

On June 22, 2020, Jushi acquired agriculture company Pennsylvania Medical Solutions from Vireo Growth for 37M USD

Acquisition Highlights
  • This is Jushi’s 1st transaction in the Agriculture sector.
  • This is Jushi’s 2nd largest (disclosed) transaction.
  • This is Jushi’s 2nd transaction in the United States.
  • This is Jushi’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-06-22
Target Pennsylvania Medical Solutions
Sector Agriculture
Buyer(s) Jushi
Sellers(s) Vireo Growth
Deal Type Divestiture
Deal Value 37M USD

Target

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.

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Buyer(S) 1

Buyer

Jushi

Boca Raton, Florida, United States
Category Company
Founded 2007
Sector Consumer Products
Employees1,188
Revenue 284M USD (2022)
DESCRIPTION

Jushi is a globally focused cannabis and hemp company focused on building a multi-state portfolio of branded cannabis and hemp-derived assets through opportunistic acquisitions, distressed workouts, and competitive applications. Jushi strives to maximize shareholder value while delivering high-quality products across all levels of the cannabis and hemp ecosystem. Jushi was founded in 2007 and is based in Boca Raton, Florida.

DEAL STATS #
Overall 2 of 5
Sector (Agriculture) 1 of 2
Type (Divestiture) 1 of 1
State (Pennsylvania) 1 of 2
Country (United States) 2 of 5
Year (2020) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-11 FBS Nevada

North Las Vegas, Nevada, United States

FBS Nevada holds medical and adult-use cannabis cultivation, processing, and distribution licenses issued by the Nevada Cannabis Control Board and currently operates cultivation, production and distribution facilities in North Las Vegas, Nevada. FBS Nevada operates one of the two 7,500 square foot adjacent facilities and has upgraded the facility with state-of-the-art, indoor, double-stacked cultivation that yields approximately 2,500 lbs of high-quality dry flower per year.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-26 Agape Total Health Care

Bradford, Pennsylvania, United States

Agape Total Health Care, Inc. is a Pennsylvania Dispensary Permittee that serves as a trusted health and wellness partner in key markets across the Commonwealth.

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 1 of 2
Sector (Agriculture) 1 of 1
Type (Divestiture) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-02 Mayflower Botanicals

New Bedford, Massachusetts, United States

Mayflower Botanicals, Inc. is a registered marijuana dispensary company. Mayflower Botanicals, Inc. is based in New Bedford, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-31 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.

Sell $1M
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