Cannabis Co. MariMed Finalizes $11M Deal To Acquire First State Compassion
In a strategic move aligning with Delaware’s shift toward adult-use cannabis, multi-state cannabis operator MariMed Inc. (OTCQX:MRMD) has completed its acquisition of First State Compassion Center (FSCC), the state’s leading cannabis operator. This deal, originally structured in a July 2023 Omnibus Agreement, enables MariMed to fully integrate FSCC’s cultivation, processing, and retail assets into its vertically integrated operations.
A Deal Years In The Making
MariMed’s relationship with FSCC dates back to 2014, when the company helped FSCC secure its cannabis license and provided management and real estate services. The recently completed acquisition follows Delaware’s approval of adult-use cannabis sales, a market projected to reach $215 million in annual revenue.
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A key component of this acquisition was …