Green Peak Innovations (GPI) has signed a definitive agreement to purchase Florida’s Tree King Tree Farm, Inc.’s vertical cannabis license for $48 million.
Green Peak Innovations will hold one of only 22 vertical licenses in Florida, the third largest cannabis market in the United States. In Michigan, GPI is the largest vertical license holder in the country’s second largest cannabis market.
Our strategy has always been to grow beyond Michigan with our high-quality medical cannabis products," says GPI CEO Jeff Radway.
The closing is expected to take place in the third quarter of this year and is subject to Florida State regulatory approval, according to the company.