Ascend Wellness Holdings entered into an agreement to purchase Greenleaf Compassion Center in Montclair, one of the New Jersey’s six original alternative treatment centers.
The deal is subject to regulatory approval by the state’s Department of Health.
“We believe holding one of the original six medical licenses in New Jersey is very attractive because it allows the operation to be fully vertically integrated with the ability to add two satellite locations,” said AWH Chief Executive Officer Abner Kurtin. “Greenleaf is also one of four medical dispensaries in northern New Jersey, which has one the largest populations and most favorable consumer demographics.”
AWH is a multi-state, vertically integrated operator based out of Boston, with locations in four states: Illinois, Massachusetts, Michigan and Ohio. New Jersey would be its fifth.