Cannabis retailer MedMen Enterprises MMNFFMMEN announced Wednesday it gained an additional equity commitment from Gotham Green Partners in the amount of $30 million.
The additional equity commitment was created with Wicklow Capital’s assistance, making Gotham Green Partners’ total commitment to the company reach $280 million, out of which the investor has already provided $100 million.
MedMen Enterprises’ co-founder and CEO Adam Bierman said, “Both Gotham Green and Wicklow have shown continued confidence in our strategy and recognize the potential ahead.”
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According to the release, this additional investment will mainly be used to broaden its exposure in Florida, to operationalize the balance of the company’s retail license, improve the company’s balance sheet, broadening the company’s retail footprint, and to concentrate on important strategic markets.
MedMen provides services across the country, with flagship stores in New York, Los Angeles and Las Vegas.
Gotham Green Partners is a private equity firm with offices in California and New York. It mainly invests in companies from various sectors of the cannabis industry.
“MedMen’s strategy, brand and performance makes them the clear leader of cannabis retail in the U.S. and we are supportive of management’s vision and plan for growth and profitability,” said Gotham Green managing member Jason Adler.
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