MariMed Completes Acquisition of First State Compassion, Strengthening Market Position in Delaware
MariMed Inc. (CSE: MRMD) has completed its acquisition of First State Compassion Center (FSCC), Delaware's leading cannabis operator. The acquisition includes FSCC's cultivation and processing facilities, along with two dispensaries, strengthening MariMed's vertical operations.
The deal follows a July 2023 Omnibus Agreement and was made possible after Delaware permitted FSCC's transition from non-profit to for-profit status. The timing aligns with Delaware's anticipated launch of adult-use cannabis sales, with the state projecting annual market growth to $215 million.
MariMed and FSCC's partnership dates back to 2014, with MariMed providing management and real estate services. FSCC currently distributes MariMed's brands in Delaware, including Betty's Eddies™ fruit chews and Vibations™ drink mix, which lead their respective categories. Nature's Heritage™ flower, introduced in spring 2024, ranks fourth among flower brands in the state.
MariMed Inc. (CSE: MRMD) ha completato l'acquisizione di First State Compassion Center (FSCC), il principale operatore di cannabis del Delaware. L'acquisizione include le strutture di coltivazione e lavorazione di FSCC, insieme a due dispensari, rafforzando le operazioni verticali di MariMed.
L'accordo segue un Accordo Omnibus di luglio 2023 ed è stato reso possibile dopo che il Delaware ha autorizzato la transizione di FSCC da no-profit a profitto. Il momento è in linea con il previsto lancio delle vendite di cannabis per uso adulto nel Delaware, con lo stato che prevede una crescita annuale del mercato fino a 215 milioni di dollari.
La partnership tra MariMed e FSCC risale al 2014, con MariMed che fornisce servizi di gestione e immobili. FSCC distribuisce attualmente i marchi di MariMed nel Delaware, tra cui Betty's Eddies™ caramelle alla frutta e Vibations™ mix per bevande, che guidano le rispettive categorie. Nature's Heritage™ fiore, introdotto nella primavera del 2024, si colloca al quarto posto tra i marchi di fiori nello stato.
MariMed Inc. (CSE: MRMD) ha completado la adquisición de First State Compassion Center (FSCC), el principal operador de cannabis de Delaware. La adquisición incluye las instalaciones de cultivo y procesamiento de FSCC, junto con dos dispensarios, fortaleciendo las operaciones verticales de MariMed.
El acuerdo sigue a un Acuerdo Omnibus de julio de 2023 y se hizo posible después de que Delaware permitiera la transición de FSCC de una organización sin fines de lucro a una con fines de lucro. El momento coincide con el lanzamiento anticipado de las ventas de cannabis para uso adulto en Delaware, con el estado proyectando un crecimiento anual del mercado de hasta 215 millones de dólares.
La asociación entre MariMed y FSCC se remonta a 2014, con MariMed proporcionando servicios de gestión e inmobiliarios. FSCC actualmente distribuye las marcas de MariMed en Delaware, incluyendo Betty's Eddies™ caramelos de fruta y Vibations™ mezcla para bebidas, que lideran sus respectivas categorías. Nature's Heritage™ flor, introducida en la primavera de 2024, ocupa el cuarto lugar entre las marcas de flores en el estado.
마리메드 주식회사(MariMed Inc.) (CSE: MRMD)는 델라웨어의 주요 대마초 운영업체인 퍼스트 스테이트 컴패션 센터(First State Compassion Center, FSCC)의 인수를 완료했습니다. 이 인수에는 FSCC의 재배 및 가공 시설과 함께 두 개의 약국이 포함되어 있어 마리메드의 수직 운영을 강화합니다.
이번 거래는 2023년 7월의 옴니버스 계약에 따른 것이며, 델라웨어가 FSCC의 비영리에서 영리로의 전환을 허용한 후 가능해졌습니다. 이 시기는 델라웨어에서 성인용 대마초 판매의 예상 시작과 일치하며, 주 정부는 연간 시장 성장을 2억 1천5백만 달러로 예상하고 있습니다.
마리메드와 FSCC의 파트너십은 2014년으로 거슬러 올라가며, 마리메드는 관리 및 부동산 서비스를 제공합니다. FSCC는 현재 델라웨어에서 베티스 에디스™(Betty's Eddies™) 과일 사탕과 비베이션스™(Vibations™) 음료 믹스를 포함한 마리메드의 브랜드를 유통하고 있으며, 이들은 각각의 카테고리에서 선두를 차지하고 있습니다. 네이처스 헤리티지™(Nature's Heritage™) 꽃은 2024년 봄에 도입되며, 주 내 꽃 브랜드 중 4위에 랭크되어 있습니다.
MariMed Inc. (CSE: MRMD) a finalisé l'acquisition de First State Compassion Center (FSCC), le principal opérateur de cannabis du Delaware. L'acquisition comprend les installations de culture et de transformation de FSCC, ainsi que deux dispensaires, renforçant les opérations verticales de MariMed.
L'accord fait suite à un Accord Omnibus de juillet 2023 et a été rendu possible après que le Delaware a autorisé la transition de FSCC d'une organisation à but non lucratif à une organisation à but lucratif. Le moment coïncide avec le lancement prévu des ventes de cannabis à usage adulte dans le Delaware, l'État projetant une croissance annuelle du marché de 215 millions de dollars.
Le partenariat entre MariMed et FSCC remonte à 2014, MariMed fournissant des services de gestion et immobiliers. FSCC distribue actuellement les marques de MariMed dans le Delaware, y compris Betty's Eddies™ bonbons aux fruits et Vibations™ mélange pour boissons, qui dominent leurs catégories respectives. Nature's Heritage™ fleur, introduite au printemps 2024, se classe au quatrième rang parmi les marques de fleurs de l'État.
MariMed Inc. (CSE: MRMD) hat die Übernahme von First State Compassion Center (FSCC), dem führenden Cannabis-Betreiber in Delaware, abgeschlossen. Die Übernahme umfasst die Anbau- und Verarbeitungsanlagen von FSCC sowie zwei Apotheken, wodurch die vertikalen Operationen von MariMed gestärkt werden.
Der Deal folgt einem Omnibus-Vertrag aus Juli 2023 und wurde möglich, nachdem Delaware FSCCs Übergang von einer Non-Profit- zu einer For-Profit-Organisation genehmigt hat. Der Zeitpunkt stimmt mit dem erwarteten Start des Verkaufs von Cannabis für Erwachsene in Delaware überein, wobei der Staat ein jährliches Marktwachstum von 215 Millionen Dollar prognostiziert.
Die Partnerschaft zwischen MariMed und FSCC reicht bis ins Jahr 2014 zurück, wobei MariMed Management- und Immobilienservices bereitstellt. FSCC vertreibt derzeit die Marken von MariMed in Delaware, darunter Betty's Eddies™ Fruchtbonbons und Vibations™ Getränkemischung, die ihre jeweiligen Kategorien anführen. Nature's Heritage™ Blüten, die im Frühjahr 2024 eingeführt werden, belegen den vierten Platz unter den Blumenmarken im Bundesstaat.
- Acquisition of Delaware's leading cannabis operator
- Strategic timing ahead of Delaware's adult-use cannabis market launch
- Market leadership with top-selling edible and beverage brands
- Vertical integration enhancing revenue and profitability
- Access to projected $215M Delaware cannabis market
- Integration costs and challenges may impact short-term profitability
NORWOOD, Mass., March 03, 2025 (GLOBE NEWSWIRE) -- MariMed Inc. (“MariMed,” or the “Company”) (CSE: MRMD) (OTCQX: MRMD), a leading multi-state cannabis operator, announced today it has completed its acquisition of First State Compassion Center (“FSCC”), the leading cannabis operator in Delaware, in accordance with the terms of the previously announced Omnibus Agreement entered into with FSCC in July 2023. The acquisition integrates FSCC’s cultivation and processing facilities, and two dispensaries into MariMed’s fully vertical operations, further enhancing the Company’s revenue and profitability.
The approval of MariMed to become the owner of FSCC was facilitated by the state permitting FSCC to transition from a not-for-profit to a for-profit business. The timing is ideal for MariMed, as Delaware is expected to commence adult-use cannabis sales later this year. A recent report by the state estimated that Delaware’s legal cannabis market could grow to
MariMed and FSCC have worked together since 2014, when MariMed assisted FSCC in securing its original cannabis license and began providing FSCC with management and real estate services. FSCC distributes MariMed’s award-winning portfolio of brands in Delaware. According to Lit Alerts, MariMed’s Betty's Eddies™ fruit chews and Vibations™ drink mix are the top-selling edible and beverage brands, respectively, in Delaware. Nature’s Heritage™ flower, which FSCC began selling in Delaware in the spring of 2024, is already number four among flower brands sold in the state.
Becoming the owner of FSCC completes an important component of MariMed’s strategic growth plan. With this development, the Company has now completed the acquisition of its previously managed businesses in Massachusetts, Illinois, Maryland, and Delaware, the results of each of which are now consolidated in the Company’s financial statements.
“We are thrilled to welcome FSCC to the Marimed family,” said Jon Levine, MariMed’s Chief Executive Officer. “We have worked closely with FSCC’s incredible team to support its growth trajectory from the very beginning, resulting in it being the top operator in Delaware today. We expect by fully integrating its operations, we will further build FSCC’s and our brands’ dominance in the market, while also improving our balance sheet.”
ABOUT MARIMED
MariMed Inc. is a leading multi-state cannabis operator, known for developing and managing state-of-the-art cultivation, production, and retail facilities. Our award-winning portfolio of cannabis brands, including Betty's Eddies™, Bubby’s Baked™, Vibations™, InHouse™, and Nature’s Heritage™, sets us apart as an industry leader. These trusted brands, crafted with quality and innovation, are recognized and loved by consumers across the country. With a commitment to excellence, MariMed continues to drive growth and set new standards in the cannabis industry. For additional information, visit www.marimedinc.com.
IMPORTANT CAUTION REGARDING FORWARD-LOOKING STATEMENTS:
The information in this release contains “forward-looking” statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, which are subject to several risks and uncertainties. All statements other than statements of historical facts contained in this release, including without limitation statements regarding projected financial results for 2024, including management’s belief that it will report its fifth consecutive year of positive operating cash flow, anticipated openings of dispensaries and facilities, timing of regulatory approvals, plans and objectives of management for future operations, are forward-looking statements. Without limiting the foregoing, the words “anticipates”, “believes”, “estimates”, “expects”, “expectations”, “intends”, “may”, “plans”, and other similar language, whether in the negative or affirmative, are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Forward-looking statements are based on our current beliefs and assumptions regarding our business, timing of regulatory approvals, the ability to obtain new licenses, business prospects and strategic growth plan, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated in these forward-looking statements due to various risks, uncertainties, and other important factors, including, among others, reductions in customer spending, our ability to recruit and retain key personnel, and disruptions from the integration efforts of acquired companies.
These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect our business and results of operations. These statements are not a guarantee of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company’s services and products, changes in the law and its enforcement, and changes in the economic environment. Additional information regarding these and other factors can be found in our reports filed with the U.S. Securities and Exchange Commission. In providing these forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.
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Media Contact:
Zach Galasso
DPA Communications
Email: zach@dpacommunications.com
Phone: (978) 604-5423
Company Contact:
Howard Schacter, Chief Communications Officer
Email: hschacter@marimedinc.com
Phone: (781) 277-0007
FAQ
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