Vireo Growth is continuing its spending spree after recently settling a legal dispute surrounding its failed merger with Verano.
Last week the company announced a deal with PharmaCann to acquire several dispensaries in Colorado for approximately $49 million. Earlier this week, it announced a deal to acquire additional outstanding senior secured convertible notes from Schwazze.
Now, Vireo said it has entered into a definitive agreement to acquire Eaze, a vertically-integrated cannabis retailer and delivery technology platform with operations in California, Florida and Colorado. Eaze, which has been navigating financial troubles over the past few years, has 65 active retail locations and has completed more 12 million deliveries.
The deal gives Vireo two new markets in California and Florida. Eaze has four co-located retail and delivery locations and eight delivery-only locations in California with coverage in most major metropolitan areas of the state. In Florida, Eaze has 39 active stores and approximately 64,000 square feet of cultivation canopy with room to expand.
Finally, the transaction will expand Vireo’s retail presence in Colorado with 14 additional dispensaries, increasing its total Colorado footprint to 55 stores. Upon closing, Vireo’s portfolio of cannabis brands and assets will span 10 total states, with 166 active retail dispensaries and approximately 800,000 square feet of operational cannabis cultivation and production.
Per the terms of the transaction, Eaze will become a wholly owned subsidiary of Vireo. Total consideration in the transaction includes approximately $47 million, payable through the issuance of approximately 84 million subordinate voting shares of the company at closing. Completion of the transaction is subject to customary conditions, including receipt of necessary approvals, and is expected to close during the first half of calendar year 2026.
