Massachusetts-based marijuana multistate operator MariMed has closed on its $11 million acquisition of First State Compassion Center in Delaware.
The deal, originally inked in July 2023, includes two medical cannabis dispensaries as well as cultivation and processing facilities, according to a Monday news release.
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The omnibus agreement between the two companies, according to regulatory filings and marketing materials, was predicated on two factors:
Delaware legalizing adult-use sales, which occurred in April 2023. State approval of converting First State Compassion Center (FSCC) from a nonprofit to a for-profit enterprise. That move happened Friday, MariMed confirmed to MJBizDaily.
The companies have been working together since 2014, when FSCC was the first recipient of an MMJ dispensary license in Delaware.
MariMed said it
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