Vireo Growth announced the closing of its previously announced acquisition to acquire an indirect 49% equity interest in HA-MD, the sole owner of Chesapeake Integrated Health Institute and Maryland Alternative Relief, pursuant to a membership interest purchase agreement dated November 3, 2025.
The total consideration for the transaction was $1.55 million, $400,000 of which was settled in cash on the closing date, $400,000 of which will be paid under a promissory note over a term of 5 years at 8% annual interest, with the remaining $750,000 balance satisfied by the issuance of 37,035 subordinate voting shares of Vireo, on a post-share consolidation basis, at a deemed issue price per share of $20.25.
In April, Vireo closed its deal to acquire cannabis cultivation unit Hawthorne from Scotts Miracle-Gro after recently buying retail assets from Eaze, PharmaCann and Schwazze. Those transactions expanded Vireo’s retail presence in Colorado to 55 stores.
Vireo also recently announced an agreement with Glass House, one of the largest cannabis growers in the U.S., to combine their California retail operations into a new joint venture.
Glass House currently operates 11 California retail locations, and Vireo operates 12 dispensaries and home delivery operations recently acquired from Eaze. The combined network will be supported by a preferential supply agreement with Glass House. Cory Azzalino, Vireo's president of California and former CEO of Eaze, has been tapped to run the joint venture, where he will oversee operations and lead the platform's retail acquisition and expansion strategy.
Vireo has also recently announced deals for Fluent and Bridgewell.
