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Divestiture • Consumer Products

Red White & Bloom Acquires Acreage Florida

On April 28, 2021, Red White & Bloom acquired consumer products company Acreage Florida from Acreage Holdings for 60M USD

Acquisition Context
  • This is Red White & Bloom’s 2nd transaction in the Consumer Products sector.
  • This is Red White & Bloom’s largest (disclosed) transaction.
  • This is Red White & Bloom’s 2nd transaction in the United States.
  • This is Red White & Bloom’s 1st transaction in Florida.

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M&A Deal Summary
Date April 28, 2021
Target Acreage Florida
Sector Consumer Products
Buyer(s) Red White & Bloom
Sellers(s) Acreage Holdings
Deal Type Divestiture
Deal Value 60M USD

Target Company

Acreage Florida

Florida, United States
Acreage Florida is a medical cannabis treatment center. Acreage Florida has secured via lease ‎agreements seven locations to build or remodel dispensaries in Hollywood, Spring Hill, Daytona, Orange Park, North ‎Miami Beach, and two locations in Miami. ‎
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Buyer Overview 1

Buyer

Red White & Bloom

Vancouver, British Columbia, Canada
Category Company
Sector Consumer Products
Revenue 80M CAD (2024)
DESCRIPTION

Red White & Bloom engages in cultivation and retail of cannabis products primarily in Michigan, Illinois, Massachusetts, California, and Florida. Red White & Bloom is headquartered in Vancouver, British Columbia.

Deal Context for Buyer #
Overall 2 of 3
Sector: Consumer Products 2 of 3
Type: Divestiture 1 of 1
State: Florida 1 of 1
Country: United States 2 of 2
Year: 2021 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-27 PharmaCo.

Marine City, Michigan, United States

PharmaCo. is a decentralized telepharmacy focused on bringing telemedicine and medical services to the remote ends of the earth. It is a licensed operator that has acquired 18 provisioning centers (dispensaries) and multiple cultivation centers. PharmaCo. is based in Marine City, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-07 Aleafia Health

Vaughan, Ontario, Canada

Aleafia Health is a cannabis company with major cannabis cultivation & processing and medical cannabis clinics business operations. Aleafia Health was founded in 2007 and is based in Vaughan, Ontario.

Buy $32M

Seller Profile 1

SELLER

Acreage Holdings

New York City, New York, United States
Category Company
Founded 2014
Sector Consumer Products
DESCRIPTION

Acreage Holdings, Inc. is a vertically integrated, multi-state owner of cannabis licenses and assets in U.S. states with respect to a number of states with operating licenses. Acreage Holdings was founded in 2014 and is based in New York City.

Deal Context for Seller #
Overall 1 of 2
Sector: Consumer Products 1 of 1
Type: Divestiture 1 of 2
State: Florida 1 of 1
Country: United States 1 of 2
Year: 2021 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-18 Deep Roots Harvest

Las Vegas, Nevada, United States

Deep Roots Harvest is a vertically integrated cannabis operator that includes cultivation, manufacturing & processing, a wholesale and distribution business, and seven retail dispensary licenses. Deep Roots Harvest is based in Las Vegas, Nevada.

Buy $120M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-16 Cannabliss & Co.

Portland, Oregon, United States

Cannabliss & Co. is a Cannabis retailer formed in 2010 and is based in Portland, Oregon.

Sell $7M

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