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Columbia Care to Acquire Colorado Cannabis Operator The Green Solution for USD 140m
Friday 08 November 2019

8 November 2019 - US cannabis operator Columbia Care has agreed to acquire Colorado, US-based cannabis operator The Green Solution (TGS) in a transaction valued at USD 140m, the company said.
The consideration to TGS of USD 140m includes USD 110m of Columbia Care stock, USD 15m in secured debt and a USD 15m seller's note with the potential for an additional milestone payment in 2021.
The acquisition establishes Columbia Care as the dominant vertically integrated cannabis company in Colorado's USD 1.6bn market, leveraging one of the most impressive single-state cannabis operators in the US.
The addition of The Green Solution Increases Columbia Care's US footprint to 93 facilities open or under development, including 74 dispensaries and 19 cultivation and manufacturing locations covering 15 jurisdictions in the US with an addressable population of over 155 m people.
TGS currently operates 21 revenue-generating dispensaries with two additional stores under development that are expected to open in 4Q19. TGS also operates one of the country's largest capacity, single site, automated manufacturing facilities that currently produces over 225,000 units of highly curated, branded products every month.
Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE:3LP) is a multi-state operator in the cannabis industry, with licenses in 15 jurisdictions in the US and the EU.
With over 1.4m sales transactions since its inception, Columbia Care is a patient-centred organisation setting the standard for compassion, professionalism, quality, caring and innovation, working in collaboration with some of the most renowned and innovative teaching hospitals and medical centres in the world.
The Green Solution (TGS) is a vertically integrated cannabis operator. The Green Solution's infrastructure is designed to accommodate dispensary operations at a global scale.
Date Published: 08/11/2019
Target: The Green Solution
Country: USA
Deal Size: 140m (USD)
Sector: Agriculture/Forestry
Type: LBO
Financing: Stock
Status: Agreed
Buyer: Columbia Care