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Acreage Holdings buys Florida-based cannabis company

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Acreage Holdings buys Florida-based cannabis company

New York City-based Acreage Holdings Inc. acquired Florida-based Nature's Way Nursery of Miami Inc.

Acreage paid $67 million to Nature's Way shareholders and assumed certain of the seller's transaction costs, with $63 million payable in cash. The remaining $4 million will be paid in units of Acreage subsidiary High Street Capital Partners LLC.

Nature's Way holds a vertically integrated license to operate a cultivation and processing facility as well as up to 30 medical cannabis dispensaries. It will operate the business as Green Owl Pharms.

Acreage owns cannabis assets across the U.S. and operates licenses across 19 states.