Story Cannabis Company Acquires 4 Vertically Integrated Nature's Medicines Dispensaries In Arizona

Story Cannabis Company, an emerging player in the fast-growing cannabis industry, announced the acquisition of four vertically integrated cannabis licenses, currently branded under the name Nature’s Medicines, located in Arizona. The Company acquired the assets from Devi Holdings Inc. Financial terms are not disclosed. 

The newly purchased facilities are currently operating and serving Arizona’s adult-use and medical consumers from two locations in Phoenix, one in Tolleson, and one in Glendale. With the recent additions, Story Cannabis' portfolio in Arizona now includes operations of 11 retail locations and two cultivation facilities.

The latest development is part of the Company’s strategic plan to grow quickly through the purchase or expansion of vertically integrated cannabis assets in target states, that have high-profit margins, steep growth curves and the expectation of soon-to-be permitted adult-use sales.
The acquisition effort was led by Story Cannabis executives and cannabis entrepreneurs, CEO Jason Vedadi, and COO Joe Sai. Both have in-depth experience at publicly traded companies and with multi-state operations. In this latest venture, the duo expects to bring a more personalized approach and curated cannabis experience to consumers. 
Vedadi, founder of Modern Flower which merged with Harvest Health and Recreation HARV HRVSF in 2017, is the former executive chairman of Harvest Health and former CEO of Oasis Cannabis. Sai is the former COO of Trulieve TCNNF, former chief of staff and COO of Harvest Health and Recreation.
“Our core strategy is to build our portfolio quickly and efficiently across multiple states in order to successfully serve consumers while staying true to cannabis culture,” Vedadi said. 
In addition to the Arizona marketplace, Story Cannabis dispensaries are found in Maryland and Ohio, with other targeted markets on the horizon including business agreements in New Jersey. 
Story Cannabis's signature CPG brands include Just Flower, plus their premium flower and concentrate offerings brand, Fade Co.