Hashish multistate operator PharmaCann is promoting a few of its Colorado retail property to Minnesota-based Vireo Progress Inc. for $49 million, the businesses mentioned.
The all-stock deal consists of leases for 17 operational dispensaries, licenses, stock and mental property tied to the LivWell model, in response to a PharmaCann information launch.
Vireo now a number one Colorado MSO with 41 hashish shops
The deal is predicted to shut within the first half of 2026 pending regulatory approvals and can increase Vireo’s footprint in Colorado to 41 hashish shops.
“We’re happy to announce this transaction which displays the continuation of our technique to proceed rising our enterprise by way of accretive M&A,” Vireo CEO John Mazarakis mentioned in an announcement.
“This transaction will purchase our different not too long ago acquired property in Colorado.”
The PharmaCann acquisition continues a shopping for spree for Vireo.
Vireo acquired $75 million in fairness financing a yr in the past to accumulate 4 single-state operators: Deep Roots Harvest in Nevada; The Flowery in Florida; Correct Manufacturers in Missouri; and WholesomeCo Hashish in Utah.
Vireo transferring towards the gang with bets on mature marijuana markets
In the meantime, Vireo’s technique of investing in mature markets like Colorado contrasts with the pattern of MSOs favoring newer, limited-license states.
The corporate introduced in October that it had closed on a deal to purchase 86% of struggling MSO Schwazze’s convertible notes for $62 million following a default.
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PharmaCann had acquired the LivWell property in a deal introduced in 2021 that was accomplished in 2024.
That preceded monetary struggles, together with hire defaults on 9 of PharmaCann’s 11 properties earlier this yr.
