MedMen Enterprises Inc. (CSE: MMEN) announced on June 6th that the company has signed an agreement to acquire Treadwell Simpson Partnershipand its affiliates. MedMen will pay $53 million for the Treadwell assets and affiliates in the form of half cash and half issuance of common units from MM Enterprises USA, LLC, which is a subsidiary of MedMen.
The close of the transaction is expected to occur within 90 days. Treadwell will receive a cash payment of $6,625,000 from MM Enterprises on the closing date and on the dates that are three, six, and nine months after said closing date.
After the close of the transaction MedMen will fully own Treadwell Nursery, which spans 5 acres in Eustis, Florida. MedMen will also have the right to open 25 medical cannabis dispensaries in Florida through Treadwell’s Florida cannabis license.