Trulieve Cannabis (CSE: TRUL) has enlarged its presence in Pennsylvania. The company this morning announced that it will be expanding its footprint in the state via the acquisition of Anna Holdings, whom currently operates under the banner of Keystone Shops.
The transaction will see the firm grow its presence by three operational dispensaries. The acquisition target currently has active retail operations in Philadelphia, King of Prussia, and Devon. The purchase brings Trulieve’s total retail dispensary location count to 83 across the US.
Under the terms of the transaction, Keystone Shops is to be acquired for a total figure of US$60 million, with no earn-out period attached to the transaction. Consideration is to consist of $20 million in cash, as well as the issuance of $40 million in Trulieve subordinate voting shares, with an estimated total of roughly 879,900 shares to be issued.
The acquisition is currently slated to close in the second quarter of 2021.
Trulieve Cannabis last traded at $57.05 on the CSE.
Information for this briefing was found via Sedar and Trulieve Cannabis Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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