Dealflow is accelerating (Paywall) with an eye on the mid-Atlantic's biggest prize: New York's REC market. Both Gov. Andrew Cuomo(D) and more progressive lawmakers are eager to legalize this year, potentially as soon as April 1, when the state budget process ends.
- Ascend Wellness acquired a controlling stake in MedMen's New York operations for $73M.
- Acreage sold its Florida operations to Red, White and Bloom Brands for $60M.
- Business Insider assessed the juiciest acquisition targets. (Paywall)
- Meanwhile, a lawsuit looks at New York's MED licensing process in 2015 and 2016, during which several MSOs grabbed licenses likely to be eligible for the REC market. It raises the possibility of unsuccessful applicants filing additional suits.