Chicago-based PharmaCann announced Tuesday it has stuck a deal to acquire Colorado-headquartered LivWell Enlightened Health in a transaction that will allow PharmaCann to extend its market footprint to eight states.
Once the acquisition is completed, PharmaCann will gain new markets in Colorado and Michigan. The company will have 60 operational retail outlets and 11 cultivation/production facilities, according to a news release.
Terms of the deal were not disclosed. Both companies are privately held.
“As far as mega private acquisitions go, this one is gigantic,” Chicago-based marijuana industry consultant Michael Mayes told MJBizDaily.
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