This story first ran on BizWest.com, a BusinessDen news partner.
Schwazze, a cannabis company formerly operating as Medicine Man Technologies Inc., has inked a deal to buy the assets of BG3 Investments LLC, the operator of two Drift-branded dispensaries in Boulder.
When the deal closes — expected to occur this year — the Denver-based Schwazze will own 19 cannabis shops.
The company agreed to by Drift for $3.5 million — $1.9 million in cash and $1.6 million in common stock, according to a Schwazze news release.
“We look forward to adding these dispensaries to our portfolio,” Schwazze CEO Justin Dye said in the release. “The company remains focused on bringing excellent customer experiences to all areas of Colorado, and we are excited to bring that experience to our customers in Boulder.”
Last year, Schwazze bought 14 Star Buds dispensary locations in Colorado, including pot shops in Longmont, Louisville and Niwot.