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Marimed To Acquire Illinois Craft Cannabis License Allowing For Vertically Integrated Cannabis Operations

Jan 18, 2022•over 3 years ago

Acquiring Company

MariMed

Acquired Company

Craft Cannabis License

NorwoodCannabis

Description

MariMed, Inc. (OTCQX: MRMD) (“MariMed” or the “Company”), a leading multi-state cannabis operator focused on improving lives every day, today announced it signed a definitive agreement to acquire Green Growth Group, Inc. (“Green Growth”), holder of a provisional Cannabis Craft License in Illinois. The transaction is subject to customary closing conditions and regulatory approvals. Terms of the deal were not disclosed.

Company Information

Company

MariMed

Location

Norwood, Massachusetts, United States

About

MariMed Inc. is a multi-state cannabis operator dedicated to improving the lives of people every day through its products, actions, and values. The Company develops, owns, and manages state-licensed cannabis facilities, including growing and processing facilities as well as medical and adult-use retail dispensaries. MariMed is at the forefront of research and innovation, and its craft cannabis cultivation approach has resulted in a portfolio of premium, award-winning, and top-selling product brands, including Betty's Eddies fruit chews, Nature’s Heritage flower, and Vibations hydrating energy drink mix. The foundation of MariMed’s success is a culture of collaboration, compassion, and integrity.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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