Blum Holdings acquires high-volume Bay Area cannabis retail dispensary

Blum Holdings has successfully closed its acquisition of a high-volume Bay Area cannabis retail dispensary through the purchase of all outstanding equity of the operating entity.

"This acquisition reflects our continued focus on disciplined, opportunistic growth," said Sabas Carrillo, Chief Executive Officer of Blüm Holdings. "We are acquiring durable retail assets with real revenue, real customers, and meaningful operating history, positioning the Company to benefit from both improved execution at the asset level and broader structural tailwinds impacting the U.S. cannabis industry."

The transaction was completed pursuant to a stock purchase agreement and included a combination of cash and equity consideration. The Company noted that all required closing conditions have been satisfied.

Carrillo added, "As the regulatory backdrop continues to evolve at the federal level, including ongoing discussions around potential reclassification of cannabis under the Controlled Substances Act, we believe scaled, compliant retail operators are well positioned to benefit from broader market development."