M&A Deal Summary

Vireo Growth Acquires PharmaCann Colorado Retail Assets

On December 16, 2025, Vireo Growth acquired agriculture company PharmaCann Colorado Retail Assets from PharmaCann for 49M USD

Acquisition Highlights
  • This is Vireo Growth’s 3rd transaction in the Agriculture sector.
  • This is Vireo Growth’s 3rd largest (disclosed) transaction.
  • This is Vireo Growth’s 5th transaction in the United States.
  • This is Vireo Growth’s 1st transaction in Colorado.

M&A Deal Summary

Date 2025-12-16
Target PharmaCann Colorado Retail Assets
Sector Agriculture
Buyer(s) Vireo Growth
Sellers(s) PharmaCann
Deal Type Divestiture
Deal Value 49M USD

Target

PharmaCann Colorado Retail Assets

Colorado, United States
PharmaCann Colorado Retail Assets cultivates, processes and dispenses safe, independently tested cannabis products.

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Buyer(S) 1

Buyer

Vireo Growth

Minneapolis, Minnesota, United States

Category Company
Founded 2004
Sector Agriculture
Employees419
Revenue 99M USD (2024)
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 was founded in 2004 and is based in Minneapolis, Minnesota.


DEAL STATS #
Overall 5 of 5
Sector: Agriculture M&A 3 of 3
Type: Divestiture M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 5 of 5
Year: 2025 M&A 2 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-06-05 Proper Brands

St. Louis, Missouri, United States

Proper Brands is a fully vertical cannabis company focused on growing quality cannabis and building premium brands aimed at providing personalized experiences for every individual, paired with exceptional customer service and support. Proper Brands is based in St. Louis, Missouri.

Buy $102M

Seller(S) 1

SELLER

PharmaCann

Oak Park, Illinois, United States

Category Company
Sector Agriculture
DESCRIPTION

PharmaCann LLC is a medical cannabis providers, cultivates, processes and dispenses safe, independently tested cannabis products to improve people’s lives. PharmaCann’s dispensaries, called Verilife, and production facilities, called Veriplant, are operating in multiple states including Illinois, Maryland, Massachusetts and New York, with other locations in development including Michigan, Ohio, Pennsylvania and Virginia.


DEAL STATS #
Overall 1 of 1
Sector: Agriculture M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Colorado M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2025 M&A 1 of 1
Size (of disclosed) 1 of 1