Jushi Enters Massachusetts With $110 Million Nature’s Remedy PurchaseApril 20, 2021
Boca Raton, Florida-based cannabis player Jushi Holdings is set to enter its seventh state via a $110 million acquisition of Nature’s Remedy of Massachusetts. Nature’s Remedy currently operates two retail dispensaries—in Millbury and Tyngsborough, Massachusetts, respectively—as well as a 50,000 square foot cultivation and production facility in Lakeville, Massachusetts. The Lakeville facility is being expanded to accommodate capacity of approximately 11,000 pounds of flower annually, and is equipped with a full kitchen for edibles production.
Jushi founder and chief executive Joe Cacioppo said the acquisition, which is slated to close in the second half of this year, “will enable us to rapidly build scale in an important, maturing adult-use market with a defensible retail position and a solid cultivation footprint with significant opportunities to expand.” With the Nature’s Remedy purchase, Jushi will have 19 dispensaries nationwide.—Daniel Marsteller
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