Green Peak Innovations of Lansing, Michigan’s largest holder of vertical medical marijuana licenses, said it is acquiring a similar company in Florida.
Details of the transaction, expected to close in the third quarter of this year, were not disclosed.
This acquisition will give Green Peak one of 22 vertical licenses in Florida, the third largest cannabis market in the United States.
“As a strategically focused multi-state operator, Florida fits perfectly into Green Peak’s portfolio as a first step in expanding our presence beyond Michigan, the country’s second largest cannabis market,” says Jeff Radway, CEO of Green Peak.
“We are aggressively pursuing the establishment of operations in Florida to fast-track the implementation of our model in the state. We look forward to serving the patients of Florida very soon with the highest quality medical cannabis products.”