The transaction gives Skymint a dominant presence in every major metro market in Michigan, with a combined retail portfolio of 29 operating locations. Another 15+ locations are expected to open in the next year. Skymint’s stores will expand to carry over 60+ brands and more than 250 products across all categories.
The transaction provides Skymint with two indoor cultivation facilities with 77,000 total square feet. A third indoor cultivation facility is expected to come online this year to bring the total to 184,000 square feet. Alongside the expanded indoor cultivation facilities, the acquisition includes a 1,000-acre outdoor farm.
In closing the transaction, Skymint appointed Mitch Baruchowitz, the CEO of Merida Capital Holdings, to its Board of Directors.