Green Peak Innovations (GPI), Michigan’s largest holder of vertical medical marijuana licenses recently announced that it has closed a $48 million deal with Tree King Tree Farm Inc. to acquire its vertical cannabis license in Florida. This will allow Green Peak Innovations to become one of the few holders of vertical licenses in Florida, the third largest cannabis market in the U.S.
“Our strategy has always been to grow beyond Michigan with our high-quality medical cannabis products,” said GPI CEO Jeff Radway. “The opportunity to move into Florida’s booming market fits perfectly into our long-term goal of becoming a strategically focused multi-state operator.”
Green Peak Innovations is currently the largest vertical cannabis license holder in Michigan, the country’s second largest market. With Green Peak Innovations acquisition, the company will be one of only 22 vertical licenses in Florida. The deal is expected to take effect in the third of this year. Details of the agreement has yet to be released with the close of the transaction subject to regulatory approval.
In recent news this year, GPI also saw the launching of its North Cannabis Company brand in Michigan. This will include only products made and distributed in Michigan. The new product offering included shipped flower, pre-rolls, wax and shatter under the new brand name.
About Green Peak Innovations
Green Peak Innovations uses nature, science and agricultural best practices to raise cannabis industry standards. We’re building state-of-the-art facilities and using advanced technology to cultivate high-quality medicine that is safe for our patients, our communities and our state. Green Peak Innovations Global Headquarters is located in Windsor Township, Michigan, and is led by CEO Jeff Radway.
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