National cannabis company Columbia Care announced the acquisition of Colorado’s Medicine Man dispensaries.
Columbia Care owns and operates cannabis dispensaries and cultivation centers in fourteen states, including Colorado. The national company previously acquired Colorado-based The Green Solution in September 2020. The acquisition of Medicine Man is set to be complete this year, bringing Columbia Care’s holdings in Colorado to 27 retail dispensaries and seven cultivation and manufacturing facilities.
Colorado was the first state in the U.S. to legalize recreational cannabis in 2012. Since implementation in 2014, the state has recorded more than $10.7 billion dollars in cannabis sales according to the Colorado Department of Revenue.
“Medicine Man is thrilled to announce our partnership with Columbia Care,” said Sally Vander Veer, CEO of Medicine Man. “They are an ideal partner, and I am confident in their ability to uphold the higher standards that our family-owned and operated cultivation and dispensaries have built over the past twelve years.”
Columbia Care highlighted Medicine Man’s history of medical and recreational cannabis in Colorado, in a news release.
“We have great admiration for what Medicine Man’s leaders, Sally Vander Veer and Andy Williams, have built over the past 12 years through their tireless leadership, local and state-level advocacy, and exceptional business acumen and vision,” said Nicholas Vita, CEO of Columbia Care.
Medicine Man is one of four cannabis dispensaries with a city of Longmont license. With this acquisition, Columbia Care would own two of them — The Green Solution at 206 South Main Street and Medicine Man at 500 East Rogers Road.
“Since 2009, the Medicine Man family has helped to pioneer the cannabis industry in Colorado. We have done it responsibly and vigorously, for our customers, employees, and our family,” said Medicine Man President and Co-Founder Andy Williams. “Our industry is changing and growing now faster than ever. We recognize the need to partner with others in order to continue to compete within, and help to responsibly transform, the industry as it grows.”