BellRock Brands, a Denver-based operator of a multistate marijuana portfolio, agreed to acquire JRM127, a producer of medical and recreational cannabis products in Michigan.
The move is part of a broader effort by BellRock to expand its Midwest presence, according to a news release.
Terms of the transaction were not disclosed.
BellRock’s flagship brands, Dixie Brands and Mary’s Medicinals, are in the Michigan market through a licensing agreement with JRMI27.
The acquisition will give BellRock “a lasting presence in the Michigan market,” the Colorado company said in the release.
BellRock’s brands are in nine states, the release noted.
In August, BellRock broke into the Missouri market through a licensing agreement with Motacann Holdings to bring Dixie and Mary’s Medicinals to the state.
Motacann is an infused products manufacturer based in St. Louis.
The Bellrock-Motacann deal coincided with Motacann’s proposed sale of its infused product manufacturing license to BRB Missouri, a BellRock partner, according to a news release.
The company also said in the release it exited the Florida medical marijuana market.
