Los Angeles-based MedMen Enterprises is expanding into Arizona’s large medical marijuana market after striking a deal with WhiteStar Solutions to acquire Monarch, a vertically integrated MMJ business with operations in Scottsdale and Mesa.
The agreement with WhiteStar includes:The deal – inked for an undisclosed sum – will pay 80% in stock and 20% in cash and underlines the fact investors are scouring Arizona for potential opportunities in the state’s thriving MMJ market.
- Monarch Wellness Center, a Scottsdale MMJ dispensary with estimated annual revenue of $10 million.
- Monarch’s 20,000-square-foot cultivation and processing operations in Mesa.
- Monarch’s branded products and wholesale operations, which include distribution to more than 60 dispensaries in the state.
- WhiteStar’s exclusive co-manufacturing and licensing agreements with Kiva, Mirth Provisions and Huxton for product distribution in Arizona.
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Published: October 02, 2018
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