Green Thumb Enters New York With Fiorello Acquisition
August 27, 2019Chicago-based Green Thumb Industries is set to enter the New York market, closing a deal to acquire Fiorello Pharmaceuticals and its vertically integrated New York license for $60 million.
With the acquisition, Green Thumb gains one of only 10 vertically integrated licenses for cultivation issued by the state. The deal also includes a cultivation and processing facility in Schenectady County, and four retail locations in Manhattan, Rochester, Halfmoon, and Nassau County.
Green Thumb founder and CEO Ben Kovler called the acquisition “an important milestone,” in line with the company’s “strategic goal of entering highly regulated markets to manufacture and distribute cannabis brands at scale.” Green Thumb’s brands include Rythm, Dogwalkers, The Feel Collection, Incredibles, and Beboe, among others.—Daniel Marsteller
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