Green Thumb Industries Inc. (GTI) Closes on Acquisition of Integral Associates; Scales Brand Distribution in Nevada and Enters the California Retail Market
Acquisition Includes Two Award-Winning Cultivation Facilities, 12 Retail Stores, Expanded Brand Distribution and Exceptional Talent
CHICAGO and VANCOUVER, British Columbia, June 05, 2019 (GLOBE NEWSWIRE) — Green Thumb Industries (GTI) (CSE: GTII) (OTCQX: GTBIF), announced today that it closed on the acquisition of Integral Associates. The acquisition includes:
Integral Associates’ three high-traffic Essence retail stores located across the Las Vegas area including the only cannabis retail store on the Las Vegas Strip; Eight additional retail licenses in Nevada: five in the Las Vegas area and three in Northern Nevada; West Hollywood retail license, one of only five with a consumption lounge and delivery service; Desert Grown Farms, a 54,000 square foot state-of-the-art cultivation and processing facility with an award-winning genetics library of 100+ strains; and Cannabiotix NV, a 41,000 square foot cultivation and processing facility which has been a recognized High Times Cannabis Cup award winner.
We are excited to close on this transaction—it is a major win for shareholders as we scale distribution of our branded products and retail footprint in the Las Vegas market, one of the most popular tourist destinations in the world. In addition, it allows GTI to enter California with a flagship retail location.
Ben Kovler, GTI Founder and Chief Executive Officer
Integral Associates is an exceptional operator—it is a highly admired and respected business and adds award-winning products, significant retail market share, and healthy EBITDA to our business. This acquisition is immediately accretive and an important milestone as we position GTI to scale in one of the only limited license adult use markets.
Kovler added, “We are also excited to welcome Armen Yemenidjian to