Verano Holdings acquires Alternative Medical and its affiliate firms
Category: #health  By Pankaj Singh  Date: 2020-11-13
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Verano Holdings acquires Alternative Medical and its affiliate firms

Verano Holdings, a renowned owner, operator, as well as manager of cannabis facilities, has reportedly announced that it has inked a new deal to acquire and integrate with Alternative Medical Enterprises, Plants of Ruskin, and other affiliated firms (collectively called ‘AltMed’), vertically-integrated firms that implement pharmaceutical industry standards to develop, cultivate, produce, and dispense medical cannabis products and medical cannabis throughout Arizona and Florida.

The deal is projected to lead to a highly-accretive integration of AltMed and Verano, with the new company working under the Verano brand name.

Chicago-based Verano is a top multi-state owner, operator, and manager of cannabis production, manufacturing, and facilitating dispensing licensing providing innovative products to the high-end, discerning consumer market. The company manufactures a comprehensive suite of artisanal, premium cannabis products sold under its customer brands, including Verano, Avexia, Edibles, and Encore.

Likewise, AltMed is a fully-integrated medical cannabis firm known for its powerful R&D (research and development) pipeline represented by its MUV dispensaries and products.

The integration of Verano and Alternative Medical is projected to make a new market-leading firm of the United States as two fully-integrated and highly profitable platforms that have the ability to expand by entering new markets and foraying deeper in the existing major markets. The acquisition will help Verano expand its footprint in Arizona and Florida, which are presently the fastest growing as well as the largest cannabis markets in the U.S.

The acquisition will increase the Chicago-based company’s reputation as a maker of high-quality products on large scale with the addition of similar abilities across new states. The transaction would improve both companies’ capabilities to offer a better, patient, and consumer focused cannabis experience.

Following successful completion of the acquisition, the combined companies would operate under the brand name of Verano, possessing the ability to work across 14 states, with 44 retail locations and eight cultivation facilities. Meanwhile, 32 additional retail locations are currently planned to open soon.

Source credit: https://www.globenewswire.com/news-release/2020/11/11/2124578/0/en/Verano-Holdings-Announces-Agreement-to-Acquire-and-Combine-Operations-with-AltMed-in-Florida-and-Arizona-Creating-One-of-the-Largest-U-S-Private-Cannabis-Companies.html
 



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Pankaj Singh

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Pankaj Singh

Pankaj Singh Develops content for Market Size Forecasters, Algosonline, and a couple of other platforms. A Post Graduate in Management by qualification, he worked as an underwriter in the UK insurance domain before deciding to switch his field of profession. With exp...

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