Massachusetts-based Curaleaf, a vertically integrated cannabis operator, agreed to buy Acres Cannabis for $70 million in a cash and stock deal.
Acres Cannabis currently operates 269,000 square feet of cultivation facilities in Nevada with plans to expand that to more than 400,000 square feet.
The company also has a flagship dispensary in Las Vegas and is looking for a second dispensary there.
Curaleaf, which trades on the Canadian Securities Exchange under the ticker symbol CURA, has 42 dispensaries, 12 cultivation sites and 10 processing facilities in 12 states.
For more details on the deal, click here.