LivWell Enlightened Health, one in every of Colorado’s largest vertically built-in leisure marijuana companies, has agreed to an acquisition provide from a privately held hashish firm in Illinois.
Chicago-based PharmaCann Inc. simply introduced that it’ll take possession of LivWell Holdings Inc., the guardian firm of LivWell dispensaries and supplying cultivations in Colorado and Michigan, pending state and native regulatory approval.
Financial phrases of the deal weren’t shared within the merger announcement. According to PharmaCann, it’s “anticipated” that LivWell founder and CEO John Lord will be a part of PharmaCann’s board of administrators after the deal closes.
Lord, a local of New Zealand who’d made and bought automotive-security seats, based LivWell in 2009 as a single medical marijuana dispensary in Denver. But LivWell expanded rapidly as soon as leisure gross sales started in Colorado on January 1, 2014, profitable dispensary licenses throughout the state and buying competing chains and lines of production. After LivWell opened a brand new retailer in Denver in September, the corporate’s 21 outposts gave it essentially the most of any dispensary chain in Colorado.
LivWell additionally owns a manufacturing facility and dispensary below building in Michigan, which PharmaCann will take over, based on the announcement.
“We are excited for this partnership with a stalwart of the U.S. cannabis industry,” Lord says in a press release on the deal. “PharmaCann’s undeniable financial expertise and LivWell’s proven operational leadership makes this merger the perfect combination to further the patient and customer experience on an expanding national level.” [Read More @ Westword]