Foley Hoag LLP represented Columbia Care Inc. (NEO: CCHW) (OTCQX: CCHWF) (FSE: 3LP), a cultivator, manufacturer and provider of cannabis products, in its pending acquisition of vertically integrated cannabis company Medicine Man Denver, for upfront consideration of $42 million, comprising $8.4 million in cash and $33.6 million in stock, and a potential additional milestone payment in 2022 if certain performance targets are met. The acquisition further solidifies Columbia Care’s position as the most scaled retailer, cultivator and manufacturer in Colorado, the world’s second-largest cannabis market.
New York-based Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 18 US jurisdictions and the EU. The company currently operates 122 facilities, including 92 dispensaries and 30 cultivation and manufacturing facilities. Columbia Care is known for setting the standard for compassion, professionalism, quality, care and innovation in the rapidly expanding cannabis industry.
Foley Hoag attorneys Erica Rice, Brendan Burke and Shir Wisenberg represented Columbia Care in the transaction.