The Latest in Cannabis Industry Consolidation

2020 came to a close with the cannabis industry on a consolidation binge. Two big deals were announced shortly before Christmas, following the previous week’s last week’s big move by Aphria and Tilray. Ayr Strategies is buying Liberty Health Science in a deal valued at $290 million, and Columbia Care is buying privately-held Green Leaf Medical in a deal valued at $240 million.

Ayr Strategies has grown quickly through acquisition, and this latest purchase gets the company exposure in two of the three best medical markets in the country. The all-stock deal for Liberty is valued at $290 million. In this transaction, Ayr will be getting Liberty’s 387-acre cultivation campus in Gainesville, FL, with more than 300,000 square feet of current production facilities in operation, 28 open retail dispensaries, seven completed and ready-to-open dispensaries, and seven dispensaries currently under construction. Liberty currently employs 335 people, all of whom are expected to be retained by Ayr.

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