Red White & Bloom Brands has completed the acquisition of all of the issued and outstanding shares of Acreage Florida.
RWB Florida is licensed to operate medical cannabis dispensaries, a processing facility, and a cultivation facility in the state of Florida. The deal also includes the sale of property in Sanderson, Florida that includes over 15 acres of land and approximately 11,000 SF facility for cultivation and a 4,000 SF freestanding administrative office building. In addition, RWB Florida has 8 leased stores in prime locations throughout the state.
“The Florida cannabis market is poised for tremendous growth and is forecasted to be a top 5 State by the year 2025,” said Brad Rogers, CEO of Red White & Bloom. “With approximately 450,000 medical cannabis patients currently registered in Florida, we see this as an amazing growth opportunity for the company. Combine this with a population of 20M and we are delighted this deal has been finalized and look forward to delivering the highest quality medical products to the market.”
Jim Frasier, formerly of Acreage, has been appointed the position of Florida General Manager for Red White & Bloom. “Our employees are impressed with Red White & Bloom’s commitment to the local communities as they expand their ESG program around the environment, jobs, social justice and governance. We are excited to play a major role in the benefits cannabis can bring to the state of Florida.”
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Red White & Bloom