Tracked deals
9
9 tracked deals across 2021-2026.
Retail Buyers & Acquisitions in Maryland
Buyer mix
Strategic-led
7 strategic · 3 pe
Top trend
Volume peaked in 2023
3 tracked deals announced in 2023.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Ames Watson | 2 | Privately held holding/investment firm that purchases, tr... | PE |
| Arklyz Group | 1 | Global sports and lifestyle group focused on brand manage... | Strategic |
| CULTA Dispensary Group (CULTA) | 1 | Vertically integrated cannabis company operating cultivat... | Strategic |
| JD Sports Fashion Plc | 1 | Global retailer of sports, fashion and outdoor brands ope... | Strategic |
| Promise Holdings | 1 | Privately held operating/holding company that acquires an... | Strategic |
| TerrAscend | 1 | North American vertically integrated cannabis operator wi... | Strategic |
| TerrAscend Corp. | 1 | Leading North American vertically integrated cannabis ope... | Strategic |
| The Athlete's Foot (TAF) | 1 | Global athletic-inspired lifestyle retailer operating hun... | Strategic |
| Wynnchurch Capital, L.P. | 1 | Middle-market private equity firm focused on buyouts, gro... | PE |
Acquisition Volume in Retail in Maryland by Year
Last 5 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
February 12, 2026
- Buyer
- Promise Holdings (lead investor)
- Target
- Beauty4U
- Seller
- Seok family (Julius Seok and Gillian Seok)
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
Promise Holdings led an investor group to acquire Beauty4U, a multi-location wig and beauty supply retail chain serving the Washington, D.C. metro area, from the Seok family. Newport LLC and GROW and SELL Advisors acted as exclusive advisors to the sellers; the buyer intends to provide operational support and resources to grow the brand and preserve its specialty retail positioning.
-
September 23, 2025
- Buyer
- Ames Watson
- Target
- Claire's Holdings LLC, Claire's (North America business operations and intellectual property), Claire's/Icing stores in North America
- Seller
- Claire's Holdings LLC
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
Ames Watson, a privately held investment firm, completed its $140 million acquisition of Claire’s business operations and intellectual property in North America from Claire’s bankruptcy proceedings. The deal preserves a significant portion of Claire’s mall footprint by acquiring at least 795 of its approximately 1,500 North American stores, with the remainder expected to close.
-
- Buyer
- TerrAscend Corp.
- Target
- Hempaid, LLC (d/b/a Blue Ridge Wellness)
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
TerrAscend Corp. entered into a definitive agreement to acquire Hempaid, LLC (d/b/a Blue Ridge Wellness), a medical dispensary in Parkville, Maryland, for US$6.75 million (including US$3.0 million cash and a seller's note). The acquisition expands TerrAscend's Maryland retail footprint to three dispensaries ahead of the state's adult-use launch on July 1, 2023 and is expected to be immediately accretive to EBITDA and cash flow.
-
- Buyer
- CULTA Dispensary Group (CULTA)
- Target
- Growing Ventures (d/b/a Greenhouse Wellness), K&R Holdings (d/b/a Kannavis)
- Seller
- Gina Dubbé, Leslie Apgar, Gigi St. John, Jane Klink
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
CULTA, through its subsidiary CULTA Dispensary Group, signed a definitive agreement to acquire two female‑owned Maryland dispensaries: Growing Ventures (d/b/a Greenhouse Wellness) and K&R Holdings (d/b/a Kannavis). The purchases expand CULTA's retail footprint ahead of Maryland's adult‑use legalization and aim to preserve local staff and emphasize product quality and patient experience.
-
- Buyer
- TerrAscend Corp.
- Target
- Derby 1, LLC (d/b/a Peninsula Alternative Health)
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
TerrAscend Corp. entered into a definitive agreement to acquire Derby 1, LLC (d/b/a Peninsula Alternative Health), an 8,500 sq ft medical cannabis dispensary in Salisbury, Maryland, for total consideration of US$22.1 million, including US$1.5 million in cash. The acquisition, expected to be immediately accretive to EBITDA and cashflow, expands TerrAscend's retail footprint to 35 dispensaries and positions the company ahead of Maryland's July 1, 2023 adult-use launch.
-
- Buyer
- Arklyz Group, The Athlete's Foot (TAF)
- Target
- Shoe City
- Seller
- Shoe City family (led by President Greg Greenburg)
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Addon
Arklyz Group, owner of The Athlete's Foot, has acquired Shoe City, a Baltimore-based sneaker and streetwear retail chain, together with its online platform ycmc.com. The acquisition adds approximately 40 retail locations in the DC-Maryland-Virginia (DMV) region and aims to accelerate omnichannel growth by integrating Shoe City into The Athlete's Foot organization.
-
January 17, 2022
- Buyer
- Wynnchurch Capital, L.P.
- Target
- Mattress Warehouse, LLC
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Growth capital
Wynnchurch Capital has made a strategic growth investment in Mattress Warehouse, a leading independent mattress retailer founded in 1989 with over 300 retail locations and headquartered in Frederick, Maryland. Wynnchurch will join the company's board to help accelerate growth (targeting 500+ locations) and enhance Mattress Warehouse's digital and omnichannel capabilities.
-
May 4, 2021
- Buyer
- Ames Watson
- Target
- South Moon Under
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
An affiliate of investment holding company Ames Watson has acquired Annapolis-based apparel retailer South Moon Under. Ames Watson plans to leverage its retail operating experience to expand South Moon Under's brick-and-mortar footprint and ecommerce business and grow the brand nationally.
-
February 1, 2021
- Buyer
- JD Sports Fashion Plc
- Target
- DTLR Villa LLC
- Seller
- BRS & Co.
- Industry
- Retail
- Location
- Maryland, United States
- Type
- Buyout
JD Sports Fashion Plc agreed to acquire DTLR Villa LLC from private equity owner BRS & Co.; the deal completed on March 17, 2021 for $495 million. DTLR, a lifestyle footwear, apparel and accessories retailer operating 247 stores across 19 U.S. states (about $500M in sales), will continue to be run by co-CEOs Glenn Gaynor and Scott Collins under JD ownership.
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