
TILT Holdings has signed an agreement to divest two dispensaries in Massachusetts to In Good Health, a private single-state cannabis operator, for $2 million in cash. It will transfer over its Taunton dispensary to the company and shut down its Brockton dispensary.
The company still has one location in Cambridge that it said is part of plant-touching assets under review.
“This divestiture marks an important first step in TILT’s execution of strategic transactions aimed at optimizing our balance sheet and operating expenses,” said TILT CEO Tim Conder. “We are making steady progress in identifying and executing strategic alternatives for our plant-touching assets, including cultivation and manufacturing operations in Massachusetts, Pennsylvania, and Ohio. In parallel, we are actively optimizing our Jupiter business to continue to deliver the best products and service to our customers in a rapidly evolving vaporization hardware market."
“We are excited about adding to our Massachusetts retail footprint and providing a new cannabis experience for Taunton-area residents, some of whom we have been serving for years in our Brockton dispensary,” said In Good Health President and Chief Executive Officer, David Noble. “This acquisition allows us to bring our signature brands and high-quality, affordable products to a new community. Taunton is a perfect third point on the triangle, with our Brockton location to the north and Sandwich to the east, and this location will allow us to efficiently move resources within this territory to best meet the needs of our customers.”
The transaction is expected to close in the first half of 2025, subject to receipt of customary regulatory approvals and satisfaction of other closing conditions outlined in the agreement.