Marijuana multistate operator Verano Holdings on Wednesday announced a definitive agreement to acquire Florida-based Alternative Medical Enterprises (AltMed) for an undisclosed price, creating one of the largest cannabis companies in the U.S. with 44 retail locations in 14 states.
The merger gives Illinois-based Verano, which was active in 12 states before the deal, a strong presence in Florida’s rapidly growing medical marijuana market as well as a vertical license in Arizona, where an adult-use market was legalized on Election Day.
The Verano-AltMed deal also might indicate a renewal of mergers and acquisitions (M&A) activity in the marijuana industry, as capital starts to loosen and new markets emerge.
