TREES CORPORATION CANN has signed definitive documents to acquire the Green Tree Longmont and Green Tree Berthoud dispensaries in the state of Colorado, over 34,000 square feet of grow operations, and a state of the art manufacturing facility. This acquisition will add to the company’s current footprint in Colorado and will bring its total number of Colorado dispensaries to 4 along with 3 operational stores in Oregon, for a total of 7 retail dispensaries.
The acquisition is expected to generate more than $10 million of revenue with strong EBITDA margins within the TREES platform. Trees will acquire Green Tree for a combination of cash and stock. The company is in the process of submitting the change of ownership application with the Colorado Marijuana Enforcement Division for all of the assets to be acquired, and expects the acquisition to close in the fourth quarter of 2022.
The company appointed Edward Myers, as its COO. Myers has been serving as an operations and financial consultant to the company. Myers has over 40 years of operating experience in the payments industry and has held several high-profile positions including and notably, president for Global Payments North America GPN, from 2004 until 2010.
When the transaction closes,