Multistate operator Standard Wellness Holdings has acquired a medical marijuana dispensary in Springville, Utah in a deal that yielded $6.5 million for seller The Cannabist Co.
The acquired Cannabist store is being operated under Standard Wellness’ retail brand, The Forest.
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Cleveland-based Standard Wellness said in a news release the acquisition involved cash and a seller note but did not reveal the deal’s value.
However, The Cannabist recently disclosed it had divested its Utah license and retail store in Springville for gross proceeds of roughly $6.5 million.
That figure included $3.9 million in cash and a $2.6 million seller note payable “not later than July 2025,” according to the latest annual report from The Cannabist, formerly called Columbia Care.
The deal closed March
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