Florida-based cannabis company Ayr Wellness on Monday announced it will acquire Illinois-based Gentle Ventures, LLC, which owns and operates Dispensary 33, in a $55 million deal. Dispensary 33 has two locations in Chicago in the Anderson and West Loop neighborhoods.
Jonathan Sandelman, founder, chairman, and CEO of Ayr, said in a statement the deal builds on the company’s “existing foundation” in the state, which Sandelman said Ayr “began building just a few months ago” when the company announced an agreement to acquire Herbal Remedies Dispensaries, LLC, which operates two dispensaries in Quincy, for $30 million.
Sandelman also noted that its social equity partner, Land of Lincoln, had been recently selected for a dispensary license in Bloomington.
“In any market where we operate, our goal is to develop scale and meaningful presence,” Sandelman said in a press release.
Dispensary 33 had been the last independent operator in the Windy City, according to a Chicago Sun-Times report. Bryan Zises, Dispensary 33’s co-owner, said the company has passed up on about a dozen other offers from multistate operators before deciding to sell to Ayr.
The company was also the city’s first medical cannabis dispensary, according to the Sun-Times.
“This offer that we’ve accepted