TILT Holdings has signed an Asset Purchase Agreement to divest two dispensaries in Massachusetts. The transaction is aligned with TILT's broader strategy to explore strategic alternatives for its plant touching business, streamline operations, and unlock value in its vape hardware business, Jupiter Research.
Under the terms of the Transaction, TILT will transition ownership of its Taunton dispensary to In Good Health, a private single-state cannabis operator, and shut down its Brockton dispensary for $2 million in cash considerations. The company still has one location in Cambridge that is part of plant-touching assets under review.
"This divestiture marks an important first step in TILT's execution of strategic transactions aimed at optimizing our balance sheet and operating expenses," said TILT Chief Executive Officer, Tim Conder.
For more information:
Tilt Holdings
tiltholdings.com
