Connecticut marijuana company Budr has taken over three shops in that market from multistate operator The Botanist in a deal financed by Poseidon Investment Management.
The move increases Budr’s footprint from four locations to seven, the Norwalk-based News-Times reported.
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Terms of the deal were not disclosed.
In a previous funding deal, in New Jersey, Poseidon invested about $1 million.
“This transaction represents our commitment to backing exceptional operators who share our vision for the cannabis industry’s responsible growth,” Poseidon co-founder and Managing Director Emily Paxhia said in a statement to the News-Times.
Despite divesting its Connecticut outlets in Danville, Montville and Vernon, The Botanist continues to operate marijuana stores in Massachusetts, New Jersey, New York and Ohio, according to the company’s website.
The Botanist is
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