A competitor is emerging to challenge the marijuana retail chain dominating the industry, and it just closed a $640 million acquisition
|10/20/2018||Posted by BusinessMediaguide.Com under General World News||
- iAnthus, a publicly-traded firm that operates marijuana dispensaries in a number of US states, acquired Toronto-based MPX Bioceutical in a $640 million stock transaction.
- The acquisition nearly doubles the firm’s footprint as cannabis retailers compete for scale in the burgeoning sector.
- Earlier in October, MedMen, another cannabis retailer, scooped up PharmaCann in a $682 million acquisition.
- “We’re more like frenemies than enemies,” iAnthus CEO Hadley Ford told Business Insider in an interview.
IAnthus, a publicly-traded firm that operates cannabis retail facilities in the US and Canada, acquired MPX Bioceutical, a Toronto-based cannabis company, in a $640 million stock transaction.
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