NEWS BRIEF

Acreage to buy Nevada cannabis company Deep Roots for $120 million

On the same day it announced it was being acquired by Canada’s Canopy Growth in a groundbreaking deal, New York-based marijuana firm Acreage Holdings unveiled it is buying Deep Roots, a vertically integrated cannabis company based in Nevada.

The $120 million deal was secured through Acreage subsidiary High Street Capital Partners.

Once all its current M&A activity is approved, Acreage – which trades on the Canadian Securities Exchange as ACRG.U – will operate in 20 states.

Deep Roots owns a cultivation facility in Mesquite, Nevada, where it also has manufacturing and processing operations.

In addition, the company has a wholesale distribution business that serves 80% of Nevada and possesses licenses to run seven dispensaries in the state – one of which is currently operating in Mesquite.

To read more details about Acreage’s acquisition of Deep Roots, click here.

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