Stash Ventures, a vertically integrated marijuana company in Mount Pleasant, Michigan, acquired 11 dispensaries from Cloud Cannabis Co. in Troy, Mich.
The financial terms of the deal were not disclosed.
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Under the deal, which closed last month, Stash takes over dispensaries in Ann Arbor, Cedar Springs, Detroit, Gaylord, Grand Rapids, Kalamazoo, Muskegon, New Baltimore, Traverse City and Utica, according to the Cloud Cannabis website.
The dispensaries will continue to operate under the Cloud Cannabis name to preserve the brand’s “already well-established market position,” said a news release from Stash Ventures.
Stash already operates three Timber Cannabis Co. dispensaries in the Michigan towns of Mount Pleasant, Owosso and Sturgis, as well as a grow and processing operation in Sturgis, the company said.
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