Niwot, Longmont Star Buds among dispensaries snapped up by Schwazze

DENVER — Schwazze Colorado LLC (OTCQX: SHWZ), a Denver-based cannabis retailer that formerly operated as Medicine Man Technologies Inc., recently completed half of its acquisition of the Star Buds pot shop chain, including the dispensaries in Longmont and Niwot. 

Schwazze now controls six of 13 Star Buds locations. In addition to the two Boulder County locations, the first phase of the sale — totalling more than $31 million — included shops in Denver, Commerce City and Pueblo.

The firm intends to buy an additional seven Star Buds dispensaries, including shops in Westminster and Louisville, in early 2021 so long as financing is available. 

SPONSORED CONTENT

Select your Republic Services residential cart now!

In preparation for Republic Services becoming the primary provider of residential recycling, yard trimmings, and trash, residents should now select the best cart size and service schedule for their household needs.

After absorbing the Star Buds locations, Schwazze will operate 17 shops along the Front Range. The company eventually plans to expand into other parts of Colorado, according to a Schwazze news release.

Those 17 shops are expected to bring in 2020 revenues of about $95 million.

“The addition of these six Star Buds dispensaries builds on our customer-centric focus, significantly expands our retail operations footprint, and enables us to reach positive cash flow beginning in January,” Schwazze CEO Justin Dye said in a prepared statement.