M&A Deal Summary

Vireo Growth Acquires Proper Brands

On June 5, 2025, Vireo Growth acquired agriculture company Proper Brands for 102M USD

Acquisition Highlights
  • This is Vireo Growth’s 2nd transaction in the Agriculture sector.
  • This is Vireo Growth’s 2nd largest (disclosed) transaction.
  • This is Vireo Growth’s 4th transaction in the United States.
  • This is Vireo Growth’s 1st transaction in Missouri.

M&A Deal Summary

Date 2025-06-05
Target Proper Brands
Sector Agriculture
Buyer(s) Vireo Growth
Deal Type Add-on Acquisition
Deal Value 102M USD

Target

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.

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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 4 of 4
Sector: Agriculture M&A 2 of 2
Type: Add-on Acquisition M&A Deals 4 of 4
State: Missouri M&A 1 of 1
Country: United States M&A 4 of 4
Year: 2025 M&A 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-04 Goodness Growth Holdings

Minneapolis, Minnesota, United States

Goodness Growth Holdings is a physician-led, science-focused holding company that manufactures proprietary, branded cannabis products in environmentally friendly facilities and state-of-the-art cultivation sites and distributes its products through its growing network of Green Goods and other retail locations third-party dispensaries. Goodness Growth Holdings is based in Minneapolis, Minnesota.

Buy $413M