Planet 13, a Nevada cannabis company that operates what it calls the world’s largest dispensary, is entering the California market with a $10 million acquisition of a retail license and lease in the Orange County town of Santa Ana.
The company will pay Newtonian Principles a combination of $6 million in cash and $4 million in shares for the license and what is expected to be a 40,000-square-foot dispensary.
Planet 13, which last week reported first-quarter revenue of $13.8 million, runs a 112,000-square-foot dispensary superstore off the Las Vegas strip.
More details on the acquisition can be found here.
