Colorado-based retail chain Schwazze said it acquired the cannabis shop Smokin’ Gun Apothecary in the Denver suburb of Glendale for $4 million and 100,000 shares of stock.
The vertically integrated Schwazze has been on an acquisition spree, having gobbled up indoor cultivator Brow 2 in August for $6.7 million, Southern Colorado Growers in July for $11.3 million and retail chain competitor Star Buds in March for $72.3 million.
The addition of Smokin’ Gun brings its retail store footprint to 20, according to a Monday news release.
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The transaction, expected to close in the fourth quarter of 2021, includes the retail store and Smoking Gun Land Co.
Schwazze, which formerly did business as Medicine Man Technologies, trades on the over-the-counter markets as SHWZ.