trending Market Intelligence /marketintelligence/en/news-insights/trending/QFOWM9NKKZQjXpQFlqEf6Q2 content esgSubNav
In This List

Green Thumb to acquire Connecticut-based cannabis grower

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity

Blog

Insight Weekly: Bank mergers of equals return; energy tops S&P 500; green bond sales to rise


Green Thumb to acquire Connecticut-based cannabis grower

Green Thumb Industries Inc. agreed to acquire cannabis company Advanced Grow Labs LLC in a cash and stock deal valued at about $80 million.

Under the transaction, Green Thumb Industries will make a cash payment of $15 million and will issue 7 million subordinate voting shares to Advanced Grow Labs. Advanced Grow Labs is eligible to receive performance payments and up to an additional 1 million subordinate voting shares.

Advanced Grow Labs is one of the four licensed growers of cannabis in Connecticut and operates a manufacturing facility in West Haven, Conn.

Chicago-based Green Thumb Industries, a cannabis cultivator, processor and dispensary operator, expects to close the transaction in the first quarter of 2019, subject to regulatory approvals.