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Trees is joining a publicly traded holding company but keeping its name.
Google Maps screenshot
Trees, an Englewood marijuana dispensary with operations in Oregon, has been acquired by Denver-based holding company General Cannabis. The multi-state deal was announced by General Cannabis in April, but wasn’t sealed and finished until earlier this month.
According to the two parties, Trees ownership will receive a package valued at $39.5 million, comprising a little over $5.1 million in cash and nearly $35 million in General Cannabis stock. Per the deal, General Cannabis will soon do business as Trees upon approval from the Colorado Marijuana Enforcement Division.
Trees was founded in Englewood in 2017 by Tim Brown, who has since opened two more dispensaries in Portland. Trees plans to pursue another dispensary in Denver, though neither Trees nor General Cannabis disclosed where that future store would be (or how the new firm plans to