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Cannabis Briefs for November 8, 2022

November 8, 2022

•Privately held multistate operator Jars Cannabis has agreed to acquire Euflora LLC, a collective of boutique recreational marijuana dispensaries in Colorado. Terms weren’t disclosed. Adding one cultivation center and greenhouse along with six recreational storefronts to the Jars portfolio, the completion of the transaction will increase Jars’ retail operations to a total of 26 storefronts across Arizona, Colorado, and Michigan. The acquisition and rebranding of Euflora retail stores are expected to be completed by the end of the year.

•Illinois cannabis sales totaled $160 million in October, up 0.8% sequentially and 3% year-over-year. The adult-use market accounted for the lion’s share of sales, up 0.7% sequentially and 7% year-on-year to $132 million, with medical sales taking up the remainder. In the year-to-date, Illinois’ adult-use sales are up 14% to just under $1.3 billion through October, compared with the year-earlier period.

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