The dealmaking frenzy in the marijuana business continues, with Chicago-based Grassroots Cannabis being sold to Curaleaf for $875 million.
Grassroots raised $90 million earlier this year. It’s one of several Chicago companies that won or bought licenses in multiple states as marijuana legalization picked up steam in recent years. It has more 400 employees and operates in Illinois, Nevada, Pennsylvania, Michigan, Maryland, Oklahoma, Ohio, Vermont, North Dakota, Arkansas and Connecticut.
Curaleaf, which employs 1,300, operates in 12 states. It says the deal to buy Grassroots will make it the largest medical and adult-use cannabis company.
https://www.chicagobusiness.com/consumer-products/chicago-cannabis-firm-be-acquired-875-million-deal