Acreage inks $160 million acquisition of Oregon cannabis firm

Prices dropping? Rent rising? Get practical insights and proven strategies for running a successful cannabis retail operation with the MJBizDaily Retail Strategy Buyers Guide. Download your free copy. 

Acreage Holdings has inked a $160 million deal to acquire Form Factory, a Portland, Oregon-based marijuana infused edibles manufacturer and distributor.

The all-stock deal will boost Acreage’s footprint from 18 to 19 states and position the firm as a multistate consumer packaged goods firm, said George Allen, president of the New York-based company (CSE: ACRG.U).

“We’re not only going to add substantial scale to our own products,” he said, “but we’re using our licenses and national footprint to build out our manufacturing capabilities such that we can produce products for third-party brands.

“This (deal) officially gets us into the business of putting other brands in the market and doing it as a one-stop shop for those brands.”

More details on the acquisition can be found here.