Buyers Start To Buy Up Ohio Medical Marijuana Dispensaries After First Year Of Operation
Buyers, including publicly traded companies, have started buying Ohio medical marijuana dispensaries as the required state waiting period expires.
An operator based in northern Ohio and a Canadian company acquired stores this fall, and a national cannabis brand announced intentions to acquire a group of dispensaries owned by Central Ohio’s Hondros family of companies.
Ohio-based Standard Wellness LLC has acquired the Springfield dispensary of Pure Ohio Wellness LLC, the companies announced last week. Approved by the state Oct. 29, the transaction comes weeks after Pure Ohio opened Madison County’s only dispensary outside London.
The sale for an undisclosed amount provides capital to expand Pure Ohio’s processor attached to its Springfield cultivator, said owner Larry Pegram, a retired motorcycle racer. The grow operation started a year ago and the processor opened this summer. It also has a Dayton dispensary.
“The London dispensary is kind of our signature store,” Pegram said. “(Selling Springfield) gives us the ability to produce more product.”
