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Verano Enters Massachusetts Market, Launches Two Stores

August 26, 2020 1:11 pm
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Verano Enters Massachusetts Market, Launches Two Stores

Verano Holdings has officially made its debut in the Massachusetts cannabis market.

The Chicago-based company announced that it will cut the ribbon on two new retail locations. One dispensary, in Sharon, is scheduled to open Friday, Aug. 28. A Plymouth dispensary will launch a week later, on Friday, Sept. 4.

In response to the current health crisis, the store is following the recommended procedures.

The stores will offer online ordering, curbside service as well as in-store pickup option.

"We're thrilled to bring the Zen Leaf experience to Massachusetts, help make reliable, quality cannabis more accessible, and continue our strategic expansion in the region, said Verano's CEO, George Archos, in a statement. "The ideas of individual and collective wellness feel as critical as ever."

Meanwhile, last year, vertically integrated cannabis company Harvest Health & Recreation Inc (OTCQX: HRVSF) disclosed its intention to purchase Verano in an all-stock deal for $850 million.

However, earlier this year the companies agreed to terminate the merger.

Archos said that regulatory hurdles hurt the deal's progress, and the decision to cancel the transaction "was not taken lightly."

"Now with the COVID-19 pandemic often being dealt with in the very agencies that must approve the transaction, it has become clear that this combination would not be completed within the established timeframe," Archos told Benzinga.

Courtesy photo

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