Dentons has suggested Green Leaf Medical LLC on its proposed acquisition by Columbia Care Inc. for roughly US$240 million, plus extra consideration payable upon the achievement of sure milestones.
Green Leaf is likely one of the largest non-public multi-state operators within the US and a market chief within the mid-Atlantic area with cultivation, extraction, processing, and retail operations throughout its multi-state footprint. In addition to its dispensary footprint, Green Leaf additionally brings a number one wholesale market place in each Pennsylvania and Maryland, what place its merchandise are most generally bought under its nationally acknowledged gLeaf kind, together with extracts and pre-rolls.
The acquisition, anticipated to shut in the summertime of 2021, will increase Columbia Care’s operational scale and footprint in sure key, restricted license markets by materially enhancing the dimensions and capabilities of its seed-to-sale operations. The whole Green Leaf administration workforce will probably be retained, and Green Leaf’s CEO and co-founder Philip Goldberg will be part of Columbia Care’s board of administrators.
Eric Foster, accomplice and head of Dentons’ Cannabis follow in Canada, who led on the transaction, mentioned, “Our leading cross-border Cannabis group is privileged to advise Green Leaf on this transformative transaction which will enable them to continue as one of America’s pre-eminent operators and expand and innovate under the Columbia Care brand. This transaction serves as another example of how Dentons’ global cannabis practice remains at the forefront of the world’s most rapidly developing area of law.”
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