Ayr has built its footprint in 8 states — Arizona, Florida, Illinois, Ohio, Massachusetts, Nevada, New Jersey and Pennsylvania.
Since October 2020, Ayr Wellness has acquired Liberty Health Sciences (FL), Doc House (PA), CannTech (PA), Parma Wellness Center (AZ), Oasis (AZ), Garden State Dispensary (NJ), Ohio Medical Solutions (OH), NV Green (NV), Tahoe Hydro (NV) and Herbal Remedies Dispensaries (IL).
Of these acquisitions, the most notable include Liberty Health Sciences, a vertically integrated operator in Florida, in a stock-for-stock transaction valued at $290 million, as well as Garden State Dispensary, a licensed New Jersey operator for $101 million. With the addition of Florida and New Jersey, Ayr will have operations in 8 states with combined populations that total nearly 84 million people.
Ayr’s Florida acquisition has added 40 retail dispensaries to its operations, with the company anticipating at least 10 more Florida dispensaries by the end of 2021. The company has overseen a significant increase in biomass, which is being directly reflected in its sales. Ayr believes that its business in Florida could be worth what the whole company is worth today in terms of market cap.