Ayr Wellness Acquires Herbal Remedies Dispensaries, LLC

Ayr Wellness Inc. agreed to acquire 100% of Herbal Remedies Dispensaries, LLC, an operator of two licensed retail cannabis dispensaries in Quincy, Illinois, for total consideration of $30 million (comprised of $10 million in stock, $12 million in seller notes and $8 million in cash). The acquisition adds roughly 50 employees, expands Ayr into its eighth state (Illinois), is expected to close in Q4 2021 and is subject to customary regulatory approvals.