Denver-based Schwazze, a vertically integrated cannabis company formerly operating as Medicine Man Technologies, signed definitive acquisition agreements to purchase 14 Star Buds retail locations in Colorado for $118 million in a cash and stock deal.
The acquisitions include 13 retail operations – four dispensaries in Denver, two dispensaries in Aurora, one dispensary each in Commerce City, Longmont, Louisville, Niwot, Pueblo, Pueblo West and Westminster – as well as a cultivation facility in Denver.
“The addition of Star Buds builds on our customer-centric focus and will significantly expand our retail operations footprint while also increasing return to shareholders,” Schwazze CEO Justin Dye said in a news release.
But not all the deals have materialized.
Colorado Springs, Colorado-based Strawberry Fields recently terminated a $31 million agreement in which Schwazze would have acquired the marijuana retail chain.
Colorado Harvest Co. also walked away from a deal in which Schwazze had agreed to buy three cannabis storefronts for $12.5 million.