Green Growth ends $310 million purchase of marijuana firm

Green Growth Brands, an Ohio-based cannabis and CBD company, said Wednesday it is terminating its $310 million, all-stock purchase of California marijuana company Moxie, a privately held multistate operator.

Green Growth ended the planned acquisition, announced in July, because of the changing “macro environment” in the cannabis industry. Green Growth’s move is among a number of planned mergers and acquisitions in the cannabis industry that have recently been called off or restructured.

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