Sol Global, a Toronto-based investment company focused on the cannabis industry, agreed to acquire Michigan-based MCP Wellness, which has licenses to operate retail and cultivation centers in the state.
The acquisition of MCP Wellness, which is owned by private equity group Merida Capital Partners, is valued at $150 million.
MCP holds licenses to operate two Michigan cultivation centers and a license to process marijuana. It already runs three retail stores in the state, with a fourth scheduled to open in Ann Arbor in May.
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