On Monday May 3, Green Thumb Industries Inc. announced that it has signed a definitive agreement to acquire Dharma Pharmaceuticals LLC. Green Thumb will acquire 100% of Dharma. This deal will allow Green Thumb to enter the Virginia medical cannabis market.
Dharma Pharmaceuticals owns one of five licenses under the Virginia medical cannabis market, which allows it to cultivate, process, and retail directly to consumers. The company was also the first operator to offer medical cannabis products in Virginia in 2020. Through this deal, Green Thumb will acquire one of these five vertical licenses.
Per the purchase agreement, Green Thumb will also acquire a production facility and a retail dispensary located in Abingdon. In addition to this, it will be able to ope…