Cannabis Biz Ayr Buys Pa. Medical Pot Grower For $21M

Law360 (November 19, 2020, 7:25 PM EST) -- Cannabis company Ayr Strategies said Thursday it acquired a medical marijuana grower and processor in Pennsylvania for nearly $21 million, its second investment in the Keystone State in recent months.

Ayr, currently on an acquisition streak in multiple emerging pot markets, closed on the purchase of a 100% equity interest in DocHouse LLC, which operates a 38,400-square-foot cultivation and extraction facility. The sticker price includes $16.7 million in cash as well as $4.1 million in equity and seller notes.

"Pennsylvania is a terrific medical market where demand is robust, but supply is not," Ayr chairman and CEO Jonathan Sandelman said in a...

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