Schwazze, a Denver-based cannabis company, on Monday said it acquired six retail outlets from Colorado competitor Star Buds in a cash and stock deal worth $37.1 million.
The deal announced Monday was a partial step toward completing a $118 million acquisition of all 13 Star Buds stores and a cultivation facility that Schwazze agreed to in June.
The purchase price breaks down to $13.9 million in cash, $13.9 million in a seller’s note and $9.3 million in stock, according to a news release.
The acquisition includes storefronts in Denver, Commerce City, Longmont, Niwot, Pueblo and Pueblo West and brings Schwazze’s total retail footprint to 17 cannabis shops across Colorado.
Source: MJ Biz