Jushi Holdings Closes Acquisition Of Ohio Medical Cannabis Processor, Expands Cultivation And Processing Footprint

Vertically integrated cannabis company Jushi Holdings Inc. JUSHJUSHF has closed its previously announced acquisition of Franklin Bioscience OH, LLC, a licensed medical cannabis processor in Ohio.

According to Jushi's update, Franklin Bioscience operates an 8,000 square foot state-of-the-art processing facility located in Columbus.

The Boca Raton, Florida-based company also launched a series of upcoming brands and products in Ohio, kicking off with Sèche, its dine flower line, which will be followed by the debut of Tasteology, a brand of premium, real fruit, cannabis-infused gummies and tarts, as well as an award-winning vaporization line, The Lab, in .5g and .3g vape cartridges with rechargeable batteries.

"We are cultivating and producing brands in Ohio that are exciting, connective, and relevant to Ohio's medical marijuana patients," Jim Cacioppo, the company's CEO, chairman and founder, disclosed. "Through our continued dedication to research and development, our team has a firm understanding of what our customers and patients are looking for in cannabis products."

Last month, Jushi purchased OhiGrow, LLC, a licensed Ohio grower, and Ohio Green Grow LLC for $5 million in cash. The transaction included an approximately 10,000 square foot facility and 1.35 acres of land. OhiGrow's facility is in Toledo, some 100 miles from Columbus, where the newly built processing facility operated by Franklin Bioscience OH, LLC  is located.

The company announced Thursday that it intends to start its first cannabis plants this month at the OhiGrow facility in Toledo.

More recent news from Jushi:

Jushi Holdings Announces 220% YoY Spike In Q2 2021 Revenue, Updates Full Year 2021 Guidance

Jushi Holdings' Partner Awarded Cannabis Dispensary License in Illinois, Plans To Open BEYOND/HELLO Store In Peoria

Jushi Holdings Cannabis Products To Hit Shelves In Virginia, Strengthens Leadership With Brendon Lynch As Exec VP Of Retail

Cantor Fitzgerald Lowers Price Target On Jushi Holdings Cannabis Co. After It Pre-Announces Q2 2021 Financial Results, No Signs Of Slowing Down In IL And PA

Price Action

Jushi's shares traded 4.03% higher at $4.9 per share at the time of writing Thursday morning.

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