Med Men Sell Up In Florida

MJ Biz report

Cannabis multistate operator MedMen Enterprises finished its exit from the Florida market, having closed the sale of its assets for $67 million – $16 million less than when the sale was announced in February.

According to a news release, Los Angeles-headquartered MedMen sold all its Florida cannabis assets – including its medical marijuana business license, seven dispensaries, cultivation operations and existing inventory – to Green Sentry Holdings.

The deal also calls for the licensing of MedMen trademarks in the state to Green Sentry, which is based in Fort Lauderdale, Florida.

The final transaction was for $63 million in cash and another $4 million in liabilities assumed by Green Sentry.

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