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Columbia Care Bolsters Eastern Footprint With $240 Million Green Leaf Acquisition

January 4, 2021

New York-based Columbia Care has bolstered its position in several Eastern U.S. markets with an agreement to acquire Green Leaf Medical for $240 million. The deal will see Columbia Care add 400,000 square feet of cultivation and production space, as well as four operating dispensaries and permits for a further six dispensaries in key limited license markets.

In addition to its dispensary footprint, Green Leaf is a leading wholesaler in both Pennsylvania and Maryland, where its products are most widely sold under its gLeaf brand, including extracts and pre-rolls. According to Columbia Care, the Green Leaf deal will make the company “one of the largest and most efficient operators in Pennsylvania, Maryland, Ohio, and Virginia.” The transaction is expected to close next summer. Columbia Care posted revenues up 64% sequentially to $54 million in the three months through September, with adjusted EBITDA turning positive at $4 million.

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