- Green Thumb (GTII) closes on acquisition of Massachusetts cannabis operator Liberty Compassion Inc
- The acquisition adds cultivation and production capacity and two operating medical cannabis dispensaries located in Boston and West Springfield
- With the acquisition, Green Thumb now has two operational cultivation and production facilities in Massachusetts to serve the growing consumer demand for cannabis
- There are currently over 100,000 medical cannabis patients in the state, with patient registrations spiking 245 percent in 2020
- Green Thumb Industries Inc. (GTII) is down 1.16 per cent and is trading at C$35.88 at 1:21 pm ET
Green Thumb Industries Inc. (GTII) has acquired Liberty Compassion Inc, a Massachusetts-based medical cannabis cultivator and retailer.
The acquisition adds increased cultivation and production capacity and two operating medical cannabis dispensaries located in Boston and West Springfield.
“We are thrilled to broaden our cultivation and retail operations in Massachusetts, where we have been operating successfully and serving the community since 2018,” said Green Thumb Founder and Chief Executive Officer Ben Kovler.
“We can bring more Dogwalkers brand pre-rolls, more incredibles gummies and chocolates, and more Rythm to consumers in the Commonwealth. We are excited to have Liberty officially on board with the Green Thumb team,” added Kovler.
Stephen Harrington, a member of the Board of Directors of Liberty added,
“We are incredibly proud and excited to be joining up with the Green Thumb team to continue to bring great cannabis products to the Massachusetts consumer.”
“This partnership came to be through our shared alignment on vision, principles, and emphasis on our people and communities. We look forward to being a part of Green Thumb’s future growth led by the best management team in the business,” concluded Harrington.
With the acquisition, Green Thumb now has two operational cultivation and production facilities in Massachusetts to serve the growing consumer demand for cannabis.
Green Thumb’s branded products, including Dogwalkers brand pre-roll joints; Doctor Solomon’s medical-grade drops, lotions and balms; Incredibles gummies, chocolates and tarts; and Rythm premium flower and vapes, are produced in the Commonwealth and available at licensed cannabis dispensaries across Massachusetts.
The two Affinity cannabis stores join Green Thumb’s Rise Amherst location, which serves medical patients and recreational customers.
The Massachusetts recreational cannabis market has sold more than $1.5 billion in cannabis products since launching adult-use sales in 2018, according to the state’s Cannabis Control Commission, with daily sales averaging around $3 million so far in 2021.
Adult-use cannabis sales in the state have reached nearly $443 million in 2021. There are currently over 100,000 medical cannabis patients in the state, with patient registrations spiking 245 percent in 2020.
Green Thumb Industries Inc., 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 Industries Inc. (GTII) is down 1.16 per cent and is trading at C$35.88 at 1:21 pm ET.
