Jushi Completes Pennsylvania Dispensary Purchase

Cannabis company Jushi Holdings Inc. JUSH JUSHF has finalized its acquisition of Agape Total Health Care Inc.

The multi-state operator, or MSO, confirmed Tuesday that it purchased the remaining 20% of the Pennsylvania dispensary's equity interests.

Agape had been operating a Reading-based store and intends to launch two additional retail locations in Philadelphia and Pottsville.

The Boca Raton, Florida-based company disclosed that its subsidiaries currently operate ten stores in the Keystone State, including eight BEYOND/HELLO dispensaries and two locations that are poised to rebrand in the next couple of weeks.

Jushi CEO and chair Jim Cacioppo said they are thrilled they finally fully own their Pennsylvania-based retail and grower-processor subsidiaries.

"The rapidly growing Pennsylvania cannabis market is a strategic focus area for Jushi, and the Company's goal has always been to consolidate its ownership positions," commented Cacioppo. "Through our retail brand BEYOND/HELLO, we have developed a reliable, replicable model for high-quality retail experiences, backed by deep consumer insights."

Jushi said it plans to launch "between 10 and 12 of new locations in 2021," Cacioppo added.

According to its latest earnings report, published on the heels of Jushi's third store opening in Illinois, the company said it expects fourth-quarter revenue to be between  $32 million and $33 million.