Hashish multistate operator PharmaCann is promoting a few of its Colorado retail belongings to Minnesota-based Vireo Development Inc. for $49 million, the businesses stated.
The all-stock deal contains leases for 17 operational dispensaries, licenses, stock and mental property tied to the LivWell model, in keeping with a PharmaCann information launch.
Vireo now a number one Colorado MSO with 41 hashish shops
The deal is predicted to shut within the first half of 2026 pending regulatory approvals and can develop Vireo’s footprint in Colorado to 41 hashish shops.
“We’re happy to announce this transaction which displays the continuation of our technique to proceed rising our enterprise by accretive M&A,” Vireo CEO John Mazarakis stated in an announcement.
“This transaction will purchase our different lately acquired belongings in Colorado.”
The PharmaCann acquisition continues a shopping for spree for Vireo.
Vireo obtained $75 million in fairness financing a 12 months in the past to amass 4 single-state operators: Deep Roots Harvest in Nevada; The Flowery in Florida; Correct Manufacturers in Missouri; and WholesomeCo Hashish in Utah.
Vireo transferring towards the gang with bets on mature marijuana markets
In the meantime, Vireo’s technique of investing in mature markets like Colorado contrasts with the development of MSOs favoring newer, limited-license states.
The corporate introduced in October that it had closed on a deal to purchase 86% of struggling MSO Schwazze’s convertible notes for $62 million following a default.
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PharmaCann had acquired the LivWell belongings in a deal introduced in 2021 that was accomplished in 2024.
That preceded monetary struggles, together with hire defaults on 9 of PharmaCann’s 11 properties earlier this 12 months.
