Schwazze acquires 14 Star Buds locations in Colorado
DENVER — Schwazze, formerly operating as Medicine Man Technologies Inc. (OTCQX: SHWZ), has signed definitive agreements to acquire 14 Star Buds locations in Colorado.
Star Buds operates retail cannabis stores. The acquisition includes retail locations in Commerce City, Longmont, Louisville, Niwot, Pueblo, Pueblo West and Westminster, along with a cultivation facility in Denver.
The facilities are being acquired from 13 different ownership groups and collectively recorded $50 million in revenue in 2019, Schwazze reported.
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“Star Buds is a premier brand across the entire cannabis industry, and we are thrilled to bring the Colorado locations into the Schwazze family,” Justin Dye, CEO of Schwazze, said in a prepared statement. “The addition of the Star Buds builds on our customer-centric focus and will significantly expand our retail operations footprint while also increasing return to shareholders.”
The acquisitions are expected to close later in 2020. Terms of the deals were not disclosed.
Schwazze is a trade name for Medicine Man Technologies Inc.
