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Verano Enters Three New States With $413M Deal For Goodness Growth

February 1, 2022

Multi-state cannabis player Verano is set to expand its footprint to 18 states with a proposed deal to acquire Goodness Growth for $413 million. The Goodness Growth acquisition will give Verano one of only 10 vertically-integrated licenses in New York, which includes one cultivation license, four active dispensaries, and four additional dispensaries planned in high-traffic locations.

The purchase also adds one of only two vertically-integrated licenses in Minnesota—which includes one cultivation license and eight active dispensaries—as well as entry into New Mexico and an expanded operational footprint in Arizona and Maryland. Verano is also gaining Goodness’ Vireo, 1937, LiteBud, Kings & Queens, Hi-Color, and Amplifi brands. Following the closure of the deal, Verano’s footprint will span 18 states, with active operations in 15, including 17 cultivation facilities totaling 1.3 million square feet of cultivation capacity and 111 active dispensaries.—Daniel Marsteller

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