MedMen Enterprises Inc. (OTCQB: MMNFF) announced on October 11th the company has entered into a definitive agreement to acquire all outstanding shares of PharmaCann LLC for $682 million. The acquisition agreement, which is the largest acquisition in U.S. cannabis history at $682M, is an all-stock transaction that will create the largest U.S. cannabis company.
The resulting corporate entity will be allowed to operate up to 79 cannabis facilities across 12 states. An early estimate of the market revenue from the total facilities is at $40 billion by 2030. Total MedMen square footage will be at over 800,000 sq. ft. after the closing of the transaction between the two companies.