Florida’s cannabis market continues to grow

New York City-based Acreage Holdings acquired Nature’s Way Nursery of Miami for $67 million. Nature’s Way is one of Florida’s medical marijuana licensors. It was awarded a vertically integrated operating license and will operate the MMJ business line under the name Green Owl Pharms. The license allows it to operate a cultivation and processing facility and up to 30 medical cannabis dispensaries. Acreage is the largest vertically integrated, multi-state owner of cannabis licenses and assets in the U.S. with respect to the number of states in which it is licensed to operate. As of December 28, 2018, there were more than 209,000 total cannabis patients in Florida, according to the Florida Department of Health Office of Medical Marijuana Use.

Kevin Gale
kgale@sfbwmag.com
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