Verano Holdings closed its acquisition of all equity interests of vertically integrated Sierra Well (WSCC Inc).
Verano’s acquisition includes two operational dispensaries – one in Reno, the other in Carson City – as well as an active 100,000-square-foot cultivation and production facility in Reno and real estate property in each city. Sierra Well is now a wholly-owned subsidiary of Verano, according to a company release.
With the acquisition, Verano’s Nevada portfolio now totals five dispensaries and two cultivation and production facilities. The acquisition also includes two medical cannabis cultivation licenses, two medical dispensary licenses, one medical production license, two adult-use cultivation licenses, two adult-use dispensary licenses, one adult-use manufacturing license, and one adult-use distribution license.
“Today signifies a huge step forward for our business in Nevada, a state that we have long considered a core growth market and key piece of our operational footprint,” said George Archos, co-founder and CEO of Verano. “Gaining a presence in Reno and Carson City provides Verano with comprehensive retail and distribution opportunities in Northern Nevada that complement our current operations in the Las Vegas area. With a growing population, booming tourism and an abundance of natural beauty, we look forward to a bright future in the great state of Nevada.”
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Verano’s total U.S. footprint now spans 116 dispensaries and 14 cultivation and processing facilities across 13 states
