Schwazze announced Thursday, Feb. 10, that it has closed the transaction to acquire Emerald Fields, which owns and operates two retail cannabis dispensaries in Manitou Springs and Glendale, Colorado. This acquisition is part of the company’s ongoing retail expansion plan in Colorado and New Mexico, bringing the total number of dispensaries the company operates to 32.
According to Schwazze’s website, www.schwazze.com/home, it’s the “next era of cannabis.”
Total consideration for the acquisition is $29 million and will be paid as 60 percent cash and 40 percent Schwazze common stock upon closing.
“Our team is delighted to add the Emerald Fields Cannaboutiques to our growing portfolio of dispensaries and we’re eager to welcome the team to Schwazze,” said Justine Dye, Schwazze’s CEO.
“Manitou Springs and Glendale are attractive locations and valuable assets to our overall growth plan as we continue to build out Colorado. Our team is excited to add another store brand to our house of brands.”
The Manitou Emerald Fields outlet is at 27 Manitou Ave. Information: emeraldfields.com.