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.
Stay informed with MJBiz Newsletters
MJBiz’s family of newsletters gives cannabis professionals an edge in this rapidly changing industry.
- MJBizDaily: Business news for cannabis leaders in your inbox each morning
- MJBiz Cultivator: Insights for wholesale cannabis growers & vertically integrated businesses
- MJBizCon Buzz: Behind-the-scenes buzz on everything MJBizCon
- MJBiz Retail + Brand: New products, trends and news for cannabis retailers, distributors and marketers
- Hemp Industry Week: Roundup of news from hemp farming to CBD product manufacturing
- And more!
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.