M&A
confidence high
sentiment neutral
materiality 0.80
Vireo Growth to acquire four Ohio cannabis companies for ~$210M in stock
Vireo Growth Inc.
- Acquires FarmaceuticalRx LLC for ~$139.5M in stock; FRX has $23.8M closing EBITDA.
- Acquires FarmaceuticalRx2 LLC for ~$19.2M in stock (after adjustments) plus assumes ~$50.9M debt.
- Acquires Canoe Hill Ohio for ~$34.8M in stock (5.7x $6.1M EBITDA) and CAOH for ~$16.0M in stock (5.7x $2.8M EBITDA).
- CEO John Mazarakis is a seller in CAOH transaction (related party); will receive 421,344 shares, increasing his stake by 128.5%.
- All deals include performance-based clawback: up to 25% of shares forfeited if 2027 EBITDA targets missed and stock price >$31.50.