MedMen Doubles Market Reach with Acquisition of PharmaCann
- MedMen to acquire PharmaCann in all-stock transaction valued at US$682 million, the largest acquisition transaction in U.S. cannabis history.
- The acquisition doubles the number of states where MedMen has licenses to 12.
- The combined addressable market in these 12 states accounts for over 50 percent of the total estimated 2030 U.S. addressable market of $75 billion, according to Cowen Group.
- Combined, MedMen and PharmaCann would be licensed for 66 retail stores and 13 cultivation and production facilities, including pending acquisitions by MedMen.
- PharmaCann unitholders will own approximately 25 percent of the pro-forma company, on a fully-diluted basis, at closing.
All dollar values are in U.S. dollars, unless otherwise noted.