Schwazze Expands in Colorado with Indoor Grow Acquisition
Schwazze has closed the transaction to acquire the assets of Brow 2, LLC, located in Denver, Colorado. The planned transaction includes a 37,000-square-foot building and equipment designed for indoor cultivation. This transaction continues Schwazze’s aggressive expansion in Colorado and will enhance the company’s cultivation capabilities, providing product directly to its dispensaries. The consideration for the acquisition was $6.7 million and was paid in cash at closing.
Late in 2021, Schwazze announced a transformational $95 million raise with institutional investors and individuals, allowing the company to expedite its aggressive expansion plans and become a regional multi-state operator with operations in Colorado and New Mexico. The company’s differentiated strategy is to build a leadership position in retail and operational depth within its operating areas.
Since December 2021, Schwazze has completed five acquisitions adding a total of 15 cannabis dispensaries, including Smoking Gun (December 2021); Drift (February 2022); Emerald Fields (February 2022); and the ten Greenleaf New Mexico dispensaries (February 2022).
Since July 2021, the company has acquired a total of six cultivation facilities, two in Colorado including, SCG Holding LLC (July 2021); and Brow 2 LLC (February 2022) – and four licensed in New Mexico (February 2022). The Greenleaf New Mexico acquisition also added a manufacturing asset, Elemental Kitchen & Laboratories, LLC, to the company’s Purplebee’s manufacturing plant in Colorado.
Schwazze continues to evaluate merger and acquisition transactions that meet our strategic screening criteria.