Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE:3LP) announced Monday it has wrapped up the previously announced acquisition of the Colorado-based vertically integrated cannabis company Medicine Man.
Total upfront consideration was $42 million, including $8.4 million in cash and $33.6 million in stock with the potential for an additional milestone payment based on 2021 performance.
The sum represents a multiple of roughly 4.5x projected 2021 EBITDA. In addition, it is immediately accretive to adjusted EBITDA and cash flow from operations.
What It Means For Columbia Care
This acquisition adds a 35 000 square foot indoor cultivation facility and four Denver-metro dispensaries to Columbia Care’s Colorado operations, including the Medicine Man Longmont location, which is anticipated to close in the first …