Ayr Wellness, a multistate marijuana operator with offices in New York and Toronto, agreed to a $101 million acquisition of GSD NJ, a vertically integrated medical cannabis company.
Ayr, which changed its name in February from Ayr Strategies to Ayr Wellness, said in a statement it will pay:
- $41 million in cash.
- $30 million in stock.
- $30 million in the form of promissory notes.
Earnout payments pursuant to the acquisition agreement will be capped at a maximum of $96.75 million.