NORWOOD,
Mass., April 11, 2024 – PRESS RELEASE – MariMed Inc., a leading multistate cannabis operator
focused on improving lives every day, announced the closing of its acquisition
of Allgreens Dispensary LLC on April 9, 2024. The approval of the license
transfer by the Illinois Department of Financial and Professional Regulation,
and subsequent closing of the acquisition, allows MariMed to fully consolidate
the financial results of the company’s Thrive-branded dispensary in
Casey, Ill., which had previously been operated under a Managed Services
Agreement.
Thrive Casey
is the only dispensary in Clark County, Ill., 30 miles west of Terre Haute, Ind.
Thrive Casey is located at 912 N. State Highway 49, near the
intersection of state Highway 49 and U.S. Interstate 70. The dispensary should
benefit from attracting the thousands of tourists who annually visit Casey to
see the 30 “World’s Largest” and “Big Things” on display throughout the city.
They include the World’s Largest Rocking Chair and Mailbox.
The
company continues to look for additional retail locations in Illinois, where
adult-use cannabis sales exceeded $1.6 billion last year. Current Illinois cannabis
regulations allow an operator to own up to 10 dispensaries.
MariMed
also recently became vertical in Illinois, opening a craft grow and processing
facility in Mt. Vernon in December. MariMed now distributes most of its
products at Thrive dispensaries and wholesales its products to more
than 100 other dispensaries throughout the state. Thrive Casey will
offer a curated selection of products across its award-winning brand portfolio,
including Betty’s Eddies fruit chews, Bubby’s Baked
soft-baked goods, Vibations drink mixes, and the full suite of its InHouse
branded products.
