Denver pot shop operator buys Drift dispensaries in Boulder

MedicineMan Cannabis

Jars of cannabis at a Medicine Man store. (BusinessDen file photo)

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.

MedicineMan Cannabis

Jars of cannabis at a Medicine Man…

You must be a member to access BusinessDen's exclusive reporting.

Your subscription has expired. Renew now by choosing a subscription below!

For more informaiton, head over to your profile.

Profile


SUBSCRIBE NOW

TERMS OF SERVICE:

ALL MEMBERSHIPS RENEW AUTOMATICALLY. YOU WILL BE CHARGED FOR A 1 YEAR MEMBERSHIP RENEWAL AT THE RATE IN EFFECT AT THAT TIME UNLESS YOU CANCEL YOUR MEMBERSHIP BY LOGGING IN OR BY CONTACTING AARON@BUSINESSDEN.COM.

ALL CHARGES FOR MONTHLY OR ANNUAL MEMBERSHIPS ARE NONREFUNDABLE.




Return to Homepage

Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments