VERANO/ALTMED TIE-UP CREATES A MAJOR PLAYER

MSO Verano Holdings said it would acquire Alternative Medical Enterprises (AltMed) to create an operator with 44 shops across 14 states.
MJBiz

• The terms were not disclosed.
• Executives say the combined company will be one of the three largest U.S. players by revenue, though the privately held companies don’t disclose their sales figures. This suggests annual sales of more than $200M.
• Verano operates the ZenLeaf dispensary brand. AltMed operates the MüV dispensary brand. The latter has about 10% market share in Florida.

In other business news:

• Major Canadian players are eyeing the U.S. market (paywall).
  Business Insider
• Columbia Care, Akerna (formerly MJ Freeway) and Harvest Health and Recreation reported significant revenue growth. None turned a profit.
  Press releases
• The maker of Nerds candies is suing Tops Cannabis for allegedly selling a parody of its well-known product.
  MJBiz