Vireo Growth Inc. Announces Closing of Acquisition of Eaze Inc.

Executive Summary

• Vireo Growth Inc. closed its acquisition of Eaze Inc., adding a vertically‑integrated cannabis retailer and delivery platform operating in California, Florida, and Colorado.
• The deal expands Vireo’s footprint to 10 states with over 160 dispensaries and roughly 800,000 sq ft. of cultivation/production capacity.
• Cory Azzalino was appointed CEO of Vireo’s newly created California business unit.

Key Details

• Acquisition Completion: Vireo announced the closing of its purchase of Eaze Inc., a multi‑state operator with 67 active retail locations and more than 12 million deliveries completed to date.
• Geographic Expansion: The transaction adds two new markets (California and Florida) and an additional 15 dispensaries in Colorado, bringing Vireo’s total operating footprint to 10 states and >160 dispensaries.
• Cultivation & Production Capacity: Combined assets now include approximately 800,000 sq ft. of indoor cultivation and manufacturing space across the portfolio.
• Eaze Operations Overview:
• California – 12 delivery/retail stores (leader in state delivery).
• Colorado – 15 retail stores.
• Florida – 40 retail stores plus a vertically integrated subsidiary with 200,000 sq ft. of indoor cultivation and manufacturing capacity.
• Leadership Appointment: Cory Azzalino, former CEO of Eaze, will serve as CEO of Vireo’s California business; John Mazarakis remains CEO of Vireo overall.
• Strategic Rationale (CEO Quote): “The addition of Eaze provides immediate scale in two of the country’s largest and most competitive cannabis markets… enhances our platform and strengthens our position in Colorado.” – John Mazarakis, CEO, Vireo Growth Inc.
• Financial Impact: While specific purchase price and financing terms were not disclosed, the acquisition is presented as a material growth catalyst for Vireo, expected to drive revenue expansion and operational synergies across its national portfolio.

Notable Quotes

“We are thrilled to announce the closing of our Eaze acquisition and Vireo’s entrance into California and Florida… The addition of Eaze provides immediate scale in two of the country’s largest and most competitive cannabis markets.” – John Mazarakis, CEO, Vireo Growth Inc.

“The Eaze team is excited to join Vireo – our teams share a common vision for setting the standard in cannabis retail and delivery…” – Cory Azzalino, CEO of Vireo’s California business.