Northwire Canada EditionSunday, July 12, 2026
Sign inSubscribe
Northwire
⌕
GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
M&A / Property

Vireo Growth Inc. Announces Closing of Acquisition of Assets of Schwazze

By The Northwire Desk — AI Analysis Mar 24, 2026 · 07:00 VREO · 0.54 Vireo Growth Inc.
VREO · Price

Executive Summary

  • Vireo Growth Inc. completed the acquisition of Medicine Man Technologies’ (Schwazze) assets, adding 24 dispensaries in Colorado, 21 in New Mexico, and one manufacturing facility in each state at an implied share price of $0.661.
  • Justin Dye was appointed Chairman and Forrest Hoffmaster as CEO of Vireo’s newly formed Colorado‑New Mexico business unit.
  • The transaction is valued at under 4× pro‑forma EBITDA, representing a strategic expansion toward a potential network of >75 dispensaries pending regulatory approvals and capital availability.

Key Details

  • Acquired Assets:
  • 24 retail dispensaries in Colorado
  • 21 retail dispensaries in New Mexico
  • One manufacturing facility in Colorado
  • One manufacturing facility in New Mexico
  • Purchase Consideration: Assumed share price of $0.661 per Vireo share (all‑share transaction).
  • Valuation Metric: Implied valuation under 4× pro‑forma EBITDA for the Schwazze assets.
  • Leadership Appointments:
  • Justin Dye – Chairman of Vireo’s Colorado & New Mexico business.
  • Forrest Hoffmaster – Chief Executive Officer of Vireo’s Colorado & New Mexico business.
  • Strategic Rationale: Expands Vireo’s footprint in key markets, creates a platform for capital‑efficient growth, and positions the company to scale toward >75 dispensaries over time.
  • Forward‑Looking Statements: Include expectations about market conditions, regulatory approvals, capital availability, and integration of Schwazze operations.

Notable Quotes

“We are pleased to announce the closing of the acquisition of the Schwazze assets… enabling Vireo to expand its presence in key markets through the acquisition of established retail operations at an implied estimated valuation of under 4x pro forma EBITDA.” – John Mazarakis, CEO, Vireo Growth Inc.

“This transaction marks the beginning of a new chapter for the Schwazze team… we remain committed to serving our customers in Colorado and New Mexico with high‑quality products and experiences.” – Forrest Hoffmaster, CEO, Vireo’s Colorado & New Mexico businesses

Read the original news release →

More from Vireo Growth Inc.

Jun 18, 2026 · 16:05

Incremental Maryland footprint closes; execution continues but dilution and cash burn remain structural headwinds

M&A / Property Jun 15, 2026 · 07:00

Vireo’s acquisitive playbook continues in Nevada, but dilution and integration risk cap the upside.

M&A / Property Jun 05, 2026 · 17:17

Vireo Growth Closes Bridgewell Acquisition, Expands Ancillary Footprint Amid Aggressive M&A and Dilutive Financing

M&A / Property May 26, 2026 · 21:43

Cannabis Roll‑Up Vireo Growth Takes On 15% Seller Financing to Buy New York Facility as Dilution and Debt Pile Mount

M&A / Property May 25, 2026 · 07:30

Vireo Diversifies Cannabis Portfolio with Agribusiness Acquisition Amidst Heavy Debt Load

M&A / Property May 12, 2026 · 07:30

Vireo’s acquisition feast lifts revenue tenfold, but a glut of new shares keeps the stock on a starvation diet below a dollar.

Earnings