SAN DIEGO, May 10, 2021 /PRNewswire/ -- The year 2021 has picked up right where 2020 left off. Mergers and Acquisitions in the cannabis indust
SAN DIEGO, May 10, 2021 /PRNewswire/ — The year 2021 has picked up right where 2020 left off. Mergers and Acquisitions in the cannabis industry continue to have a strong impact in the cannabis space. As predicted, buying and selling of cannabis businesses has continued to boom in quarter one of 2021. As federal legalization continues to move forward, MSOs from different industries outside of cannabis have begun to push for new ventures within the cannabis industry. Cannabis has continued to attract investors as it has proven to be recession and pandemic proof.
Industry leading Green Life Business Group sold 8 cannabis businesses in Quarter one of 2021. Such success has led to the representation of a massive state of the art cultivation facility in San Bernardino County that has a price of 109M which INCLUDES the real estate. This 45,000 SqFt facility could potentially be expanded into a 110,000 SqFt with future build outs that have already been approved and permitted. Not only does this facility have current revenues of $29M and EBITDA of $20M, it has also been licensed for Distribution and Type 7 Manufacturing. Green Life Business has represented many cannabis businesses but has never seen anything like this. The bar has been set.
The List of 8 businesses that SOLD:
- Retail Delivery Business NAPA Sold for $1.5M, Pre Revenue
- Santa Ana Retail Delivery Business Sold for $3.3M, Operational
- Desert Hot Springs Retail and Delivery Business Sold for $1.4M, Pre Revenue, Including Real Estate
- Paso Robles Medical Only Delivery Sold for $175,000 Pre Revenue
- Humboldt County Micro Business Delivery, Distribution, and Manufacturing Sold for $150,000, Pre Revenue
- Santa Rosa Manufacturing and Distribution Licenses Sold for $375,000, Pre Revenue
- Santa Ana, California Distribution Sold for $400,000, Pre Revenue
- Los Angeles Pre Ico Retail, Delivery, Cultivation, Manufacturing, Distribution Business Sold for $2.7M, Pre Revenue
SOURCE Green Life Business Group Inc