MedMen Enterprises Inc. sold its Florida assets to Florida-based Green Sentry Holdings LLC for $83 million in cash. The deal includes the sale of substantially all of MedMen’s Florida-based assets, including its license, dispensaries, inventory and cultivation operations. Additionally, MedMen agreed to license its trademarks in the state for two years, subject to termination rights, for a quarterly revenue-based fee.
This acquisition follows MedMen’s previous divestment of its New York operations to Ascend Wellness Holdings in February 2022.
Green Sentry Holdings LLC is associated with Brady Cobb, who is an attorney, lobbyist, strategist and consultant based in South Florida who focuses his practice in the areas of regulated medical cannabis, Federal and State government relations and regulatory matters.
According to the LevinPro HC database, this marks the 6th Pharmaceutical deal of 2022 and the 3rd deal in the medical marijuana subsector. The largest Pharmaceutical transaction of the year has been Alcon’s acquisition of Aerie Pharmaceuticals, Inc., a pharmaceutical company focused on the discovery, development, manufacturing and commercialization of ophthalmic therapies, for $770 million.
