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Columbia Care (CCHW, CCHWF) has acquired The Healing Center San Diego for approximately $15 million. The deal includes $3 million in cash, $6 million in stock, and $6 million in promissory notes. The purchase price reflects approximately 1.2x estimated 2021 revenue and 4.7x Adjusted EBITDA. THCSD has shown consistent revenue and EBITDA growth since its 2016 inception. This acquisition enhances Columbia Care's retail footprint and operational scale in California, supporting its growth strategy and leading position in the cannabis market.
Columbia Care Inc. (CCHW) has opened its first dispensary in Virginia, marking its entry as the only vertically integrated medical cannabis provider in the Hampton Roads/Norfolk region. The dispensary, located at 4012 Seaboard Court in Portsmouth, accompanies a 65,000-square-foot cultivation and manufacturing center approved for operations in April 2020. CEO Nicholas Vita emphasized the company's commitment to serving Virginia's patients and supporting local economic growth. The dispensary will operate Monday to Saturday, offering access to eligible patients registered with the Virginia Board of Pharmacy.
Columbia Care (CCHW, CCHWF) has announced a definitive agreement to acquire Green Leaf Medical for approximately $240 million, potentially including further performance-based milestones. This acquisition will enhance Columbia Care's operations in key markets—Pennsylvania, Maryland, Ohio, and Virginia—expanding its seed-to-sale capabilities. The combined entity is expected to improve gross margin, Adjusted EBITDA, and cash flow from operations, with anticipated benefits from converting markets to adult use. The acquisition is subject to regulatory approvals and is set to close in summer 2021.
