Green Thumb Industries (OTCQX:GTBIF +1.7%) announced the acquisition of Integral Associates, Nevada’s top cannabis operator, for ~$290M, with $52M paid in cash and ~20.8M Subordinate Voting Shares of GTI.
The transaction includes, Integral Accociate’s retail brand Essence, Desert Grown Farms (a 54,000 square foot state-of-the-art cultivation and processing facility) and Cannabiotix NV, (a 41,000 square foot cultivation and processing facility).
The acquisition adds operational capacity, distribution, retail footprint, and best-of-class talent for Green Thumb Industries.
The transaction is expected to close in the first half of 2019 and is subject to customary regulatory approvals.
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