Pot producer Jushi acquires Nature's Remedy in cheaper deal

Jushi Holdings

13/09/2021 14:33

Sept 13 (Reuters) - Cannabis producer Jushi Holdings Inc
 JUSH.CD  acquired Massachusetts-based retailer Nature's Remedy
at a cheaper price than initially offered, as valuation of weed
companies across North America has dramatically dropped lately. 
    The decline in valuations over the last few months has been
largely due to a lack of progress on anticipated federal
marijuana reforms in the United States.
    Jushi said on Monday its revised offer of $91 million
upfront, down from $100 million agreed upon in April, comprised
$40 million in cash, about $34.7 million in stock, a $11.5
million unsecured three-year note and a $5 million unsecured
five-year note.
    With the latest acquisition, Jushi entered one of the
largest U.S. weed markets. The company has operations in seven
states and a retail footprint of 24 dispensaries.  urn:newsml:reuters.com:*:nGNX7yTh2H
    

 (Reporting by Sahil Shaw in Bengaluru; Editing by Shinjini
Ganguli)
 ((Sahil.Shaw@thomsonreuters.com;))