Jushi Is Now Vertically Integrated In Nevada Via Acquisition Of The Apothecarium

Jushi Holdings Inc. JUSH JUSHF confirmed Wednesday it has signed an agreement to buy 100% equity interest of an entity operating a recreational and medical dispensary under the name The Apothecarium in Las Vegas, Nevada.

The purchase price was not disclosed.

Vertical Integration

This acquisition together with the April 2021 purchase of Franklin Bioscience NV, LLC, enables Jushi to become vertically integrated in Nevada and will provide branding exposure for Jushi’s product lines such as The Bank, The Lab, Tasteology and Sѐche.

This will be the company’s fourth vertically integrated state, which includes Pennsylvania (by way of its affiliated subsidiaries), Virginia and Massachusetts.

“Apothecarium Nevada is the perfect opportunity for Jushi to expand into this rapidly growing Western market. The dispensary shares our philosophy of delivering an unmatched retail experience and will continue to serve the community with the quality that patients and consumers expect from BEYOND / HELLO™," Jushi’s CEO, chairman and founder Jim Cacioppo told Benzinga.

"This acquisition will also complement the current expansion of our cultivation, processing and distribution facility, extending our reach into a convenient location off the strip in downtown Las Vegas. Apothecarium Nevada has an incredibly talented team, and we are excited to work alongside them.”

The Apothecarium Nevada is located at 7885 W Sahara Ave #112, Las Vegas, or around 6.5 miles west of the Las Vegas Strip. The dispensary is also approximately 20 minutes from other popular resorts and attractions and serves customers in-store and online through curbside pick-up and home delivery. Apothecarium Nevada is also building a drive-thru lane, which is expected to be available to customers later this year.

Price Action

Jushi’s shares were trading 0.24% lower at $4.22 per share at the time of writing Wednesday morning.

Photo: Courtesy of Grant Cai on Unsplash