New York-based The Cannabist Co. is selling all 14 of its Florida medical marijuana dispensaries and three cultivation facilities for $16.4 million in two separate deals involving three multistate operators.
In one transaction, an unidentified MSO is paying $11.4 million for The Cannabist’s 40,000-square-foot cultivation facility in Lakeland, according to a Friday news release.
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That deal, which is “subject to adjustment,” is payable in cash, though $2 million of the consideration is already in escrow, the release notes.
A spokesperson for The Cannabist told MJBizDaily via email that “we are not disclosing the MSO at this time.”
In the other transaction, a joint venture of Arizona-based Mint Cannabis and California-headquartered Shango will pay $5 million for The Cannabist’s 14 dispensaries.
The deal includes the
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