A Florida-based pot giant is planning to purchase a pair of popular Chicago weed stores in a blockbuster $55 million deal, sources told the Chicago Sun-Times on Sunday.
Dispensary 33’s two shops in Uptown and West Town are being sold to Miami-based Ayr Wellness, which grows and sells cannabis across multiple states and trades publicly on the Canadian Securities Exchange and the U.S. “penny stocks” market. A public announcement was expected Monday morning.
The terms of the deal include $40 million in stock, $12 million in cash and $3 million in seller’s notes, according to a source close to Ayr. The move comes four months after Ayr announced plans to establish a foothold in Illinois with a $30 million acquisition of two Herbal Remedies Dispensaries in downstate Quincy.
As with that deal, Ayr needs regulatory approval to take over the Chicago stores.
Bryan Zises, Dispensary 33’s co-owner, had prided himself as the last independent pot shop operator in the city after a wave of corporate consolidation swept through Illinois’ booming cannabis industry when the drug was fully legalized.
In an interview Sunday, Zises said Dispensary 33 previously passed up offers from about a dozen multi-state cannabis firms before deciding to