Foley Hoag Represents Columbia Care in $240M Acquisition of Green Leaf Medical
December 22, 2020
Foley Hoag LLP represented New York-based Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) in signing a definitive agreement to acquire Green Leaf Medical, LLC, a privately held, fully-integrated cannabis multi-state operator based in the mid-Atlantic region, for approximately $240 million with the potential for additional performance-based milestone payments. Following the close of two acquisitions that established Columbia Care as a market leader in the two largest cannabis markets in the world (California and Colorado), the acquisition of Green Leaf expands Columbia Care’s operational scale and footprint in four key, limited license markets by materially enhancing the scale and capabilities of its seed-to-sale operations. Subject to the regulatory approval process, Columbia Care will be one of the largest and most efficient operators in Pennsylvania, Maryland, Ohio and Virginia. Upon closing of the transaction in summer 2021, the entire Green Leaf management team will be retained and its CEO and Co-Founder, Philip Goldberg, is expected to join Columbia Care’s Board of Directors.
With more than four million sales transactions since its inception in 2012, Columbia Care is known for setting the standard for compassion, professionalism, quality, care, and innovation in the rapidly expanding cannabis industry. The company is one of the largest and most experienced cultivators, manufacturers and providers of medical and adult use cannabis products and related services with licenses in 18 US jurisdictions and the EU. Columbia Care currently operates 107 facilities including 80 dispensaries and 27 cultivation and manufacturing facilities, and is one of the original providers of medical cannabis in the United States. It continues to deliver an industry-leading, patient-centered medicinal cannabis operation that has quickly expanded into the adult use market as a premier operator.
We use cookies to enhance user experience, improve functionality and performance, and for analysis of website traffic. By clicking “accept”, you agree to the use of cookies. For more information about our cookie policy and the information we collect, please review our Privacy Statement.
Foley Hoag
Email Disclaimer
Transmitting information to us by e-mail unilaterally does not establish an attorney-client relationship or impose an obligation on either the law firm or even the receiving lawyer to keep the transmitted information confidential. By clicking "OK," you acknowledge that we have no obligation to maintain the confidentiality of any information you submit to us unless we already represent you or unless we have agreed to receive limited confidential material/information from you as a prospective client. Thus, if you are not a client or someone we have agreed to consider as a prospective client, information you submit to us by e-mail may be disclosed to others or used against you.
If you would like to discuss becoming a client, please contact one of our attorneys to arrange for a meeting or telephone conference. If you wish to disclose confidential information to a lawyer in the firm before an attorney-client relationship is established, the protections that the law firm will provide to such information from a prospective client should be discussed before such information is submitted. Thank you for your interest in Foley Hoag.