Florida firm buys Worcester cannabis dispensary for $13.5M
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Trulieve acquired the assets for Nature's Remedy's planned Southbridge street location in Worcester
Trulieve Cannabis Corp. of Florida announced on Wednesday it had completed a $13.5-million acquisition of Nature’s Remedy’s Worcester assets.
Trulieve said it acquired Nature’s Remedy’s assets at 142-148 Southbridge St., next to Union Music, which include a final adult use retail license from the Massachusetts Cannabis Control Commission, a host community agreement with the City of Worcester, and other government authorizations to allow for the operation of a cannabis dispensary.
In April, another Florida cannabis firm, Jushi Holdings Inc., announced it would buy Nature’s Remedy’s other two dispensaries -- in Millbury and Tyngsborough -- as well as a cultivation and production facility in Lakeville, for $110 million. Jushi said on Thursday the purchase remains in process and is expected to close in the second half of 2021.
Trulieve purchased the Worcester assets through $7 million in cash, and the remaining in shares of Trulieve currently valued at $6 million.
The Worcester dispensary will serve adult-use and medical customers, according to the company website.
Trulieve, which has operations across the U.S., has one other Massachusetts dispensary, in Northampton.
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