Green Thumb Industries Inc (GTBIF)

[FUNMAN]

Now we know the insane cannabis premium price tag for VA.--->>>Green Thumb Industries enters into $80M agreement to buy Dharma Pharmaceuticals

GTI bought one operational store and cultivation facility plus 4 more licenses. They won't even operate as RISE dispensaries. IMO that's idiotic. They aren't even trying to build their brand.

But lunacy is in the air. Trulieve's announced $2.2B acquisition of Harvest Health proved it today. That's about $44M per location with cultivation facilities thrown in. - FUNMAN

by Kristen Quon
Monday, May 10th 2021

https://wcyb.com/news/local/green-thumb-industries-enters-agreement-to-buy-dharma-pharmaceuticals

ABINGDON, Va-- - Green Thumb Industries Inc. has agreed to buy privately owned Dharma Pharmaceuticals for $80 million dollars, expanding the second-largest U.S. pot producer’s footprint to 13 states.

Dharma confirmed the change in ownership to News Five on Monday, May 10th.

Chief Executive officer Jack Page said this deal will allow Dharma to call upon GTI’s vast cannabis knowledge as the Virginia cannabis market changes and grows. He also expects to expand to 250 jobs.

“We look forward to working with the team at GTI to complete this transaction. The Dharma name will carry on and the local leadership team in Abingdon, Virginia, will remain in place,” said Chief Executive Officer of Dharma, Jack Page. “Our patients will continue to work with our amazing staff here in Southwest Virginia to provide them with access to high quality medical cannabis.”

In October 2020 Dharma opened its doors as the first operator to provide medical cannabis in Virginia. Dharma recently moved to its new location in Abingdon, Virginia where it cultivates, manufactures, and dispenses medical cannabis to registered patients in the Commonwealth.

About Green Thumb Industries:

Green Thumb Industries Inc. (Green Thumb), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves. Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomons, incredibles, Rythm and The Feel Collection. The company also owns and operates rapidly growing national retail cannabis stores called Rise. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 97 retail locations and operations across 12 U.S. markets. Established in 2014, Green Thumb employs over 2,400 people and serves thousands of patients and customers each year. The company was named a Best Workplace 2018 by Crains Chicago Business and MG Retailer magazine in 2018 and 2019. More information is available at www.GTIgrows.com.