Acreage Holdings, Inc. (CSE: ACRG.U) acquired Nature's Way Nursery Of Miami, Inc. for $57.7 million.
January 03, 2019
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Acreage Holdings, Inc. (CSE: ACRG.U) entered into a securities purchase agreement to acquire Nature's Way Nursery Of Miami, Inc. on November 2, 2018.
Acreage Holdings, Inc. (CSE: ACRG.U) completed the acquisition of Nature's Way Nursery Of Miami, Inc. for $57.7 million on January 4, 2019. The consideration is on a cash-free, debt-free basis. As per the terms, $63 million was paid in cash and $4 million was paid by the issuance of 198,019 membership equity interest. The transaction closed upon state approval. As of August 23, 2019, total consideration of $70.103 million included: (i) $53.747 million in cash, (ii) $12 million of previously-paid deferred acquisition costs and (iii) $4.356 million in HSCP units.
Acreage Holdings, Inc. is a vertically integrated, multi-state operator in the United States cannabis industry. The Companyâs operations include cultivating and processing cannabis plants, manufacturing branded consumer products, distributing cannabis flower and manufactured products, and retailing dosable cannabis products to consumers. It is offering a range of products from its flagship brand, The Botanist, for adult-use sales in New Jersey. It has also launched Botanist Vape Cartridges and Disposables in Illinois, as well as Superflux Cured Concentrates. Its brand also includes Prime Wellness. It owns and operates eight cultivation and processing facilities, one each in Illinois, Maine, New Jersey, New York, Ohio, and Pennsylvania, respectively, and two in Massachusetts. The Company also owns 23 operational dispensaries in seven states. Its subsidiary, Universal Hemp, LLC, distributes, markets, and sells cannabidiol products.
ACREAGE HOLDINGS, INC. 
