On Tuesday, Green Thumb Industries Inc. (GTI) finalized a deal to acquire 100 percent of Integral Associates, Nevada’s top cannabis company. The move marks a major expansion for the Chicago and Vancouver-based GTI. Integral will bring onboard its operational capacity, distribution and, crucially, its significant retail footprint in Nevada. The total value of the transaction is approximately $290 million. $52 million will go to Integrated Associates in cash along with 20.8 million Subordinate Voting Shares of GTI.
Highlights of Green Thumb Industry’s Acquisition of Integral Associates
Beneath its unassuming name, Integral Associates emerged as the leader of Nevada’s rapidly-developing retail cannabis industry. The company owns and operates two cultivation and processing facilities: Desert Grown Farms and Cannabiotix NV, covering 95,000 square feet. Desert Grown Farms has gained recognition for its genetics library that houses more than 100 strains of cannabis. Cannabiotix NV is well-known to High Times readers, having earned multiple High Times Cannabis Cup awards, including a 2018 Flower of the Year award for its Kush Mountain strain.
The acquisition deal also includes the Essence retail brand. Under the brand Essence, Integral Associates owns and operates three nationally-recognized dispensaries, including the first and only dispensary on the Las Vegas