MedMen Inks Blockbuster $682 Million Stock Deal To Acquire Medical Cannabis Firm PharmaCann

MedMen Enterprises has agreed to acquire multistate medical marijuana company PharmaCann in an all-stock deal valued at $682 million, inking what is believed to be the largest acquisition to date in the U.S. cannabis industry.

The deal will double the number of states where Los Angeles-based MedMen has licenses to operate – expanding the firm’s reach to 12 states with 66 retails stores and 13 cultivation facilities, the company announced Thursday.

“This is a transformative acquisition that will create the largest U.S. cannabis company in the world’s largest cannabis market,” Adam Bierman, MedMen’s chief executive officer and co-founder, said, referencing the California industry, in a news release.

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