California-based marijuana delivery platform Eaze struck a deal to acquire multistate cannabis retailer Green Dragon.
Eaze, which is privately held, did not disclose the value of the transaction in a Wednesday news release.
Denver-based Green Dragon is also privately held. The company’s website lists 15 cannabis retail outlets in Colorado and one medical marijuana dispensary in Florida with a second location planned in that state.
“The combined company will operate 42 delivery and storefront retail locations and serve markets with a combined value of nearly $10 billion,” Eaze noted in the release.
The transaction requires regulatory approval at the local and state levels, according to the release.
In a statement, Eaze CEO Rogelio Choy said Green Dragon’s Colorado operations “and expansion into Florida’s booming market adds key operational capabilities to our national footprint and cements our leadership as California’s largest (multistate operator).”
According to the release, Green Dragon “plans to have at least 20 locations secured in Florida by the end of 2021.”
In addition to its California operations, Eaze has announced plans to launch its cannabis delivery platform in Michigan.