Columbia Care Strengthens Presence In Colorado: Closes $42M Acquisition Of Medicine Man

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE:3LP) announced Monday it has wrapped up the previously announced acquisition of the -based vertically integrated cannabis company Medicine Man.

Deal Details

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 to Columbia Care’s operations, including the Medicine Man Longmont location, which is anticipated to close in the first …

Full story available on Benzinga.com

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