- Jushi Holdings (JUSH) has acquired majority stakes in two Illinois-based cannabis dispensaries
- Located in Sauget and Normal, the outlets currently operate as The Green Solution but will change to BEYOND/HELLO branding in 2020
- The acquisitions mark the company’s first step towards growth in the region
- Jushi shares are currently down 5.14% to $1.66, with a market cap of $152.52 million
Jushi Holdings (JUSH), through its wholly owned subsidiary Jushi Inc., has acquired the majority stake in two Illinois-based medical cannabis dispensaries.
The two locations in Sauget and Normal, Illinois, currently operate as The Green Solution but will transfer to BEYOND/HELLO branding over the course of 2020.
Each of the total 55 existing medical dispensaries in Illinois have the option of adding a second retail location, as well as adding adult-use to the outlets – options which are expected to be undertaken by Jushi.
“Illinois is an attractive, competitive and limited license market that turned to adult-use at the onset of the new year. We are poised to solidify ourselves in the Midwest with this initial acquisition of our first two dispensaries in the area,” said Chairman and CEO of Jushi, Jim Cacioppo.
“The stores’ prime locations and thriving communities make it the ideal locations to bolster the company’s retail portfolio, continuing to support our growth strategy of expanding Jushi’s footprint in limited license states and municipalities. We look forward to providing further announcements as we continue to strategically establish our footprint throughout the state.”
Sauget, which is located in the second-largest urban area of Illinois, hosts a population of 261,059; while Normal comprises a population of at least 170,000 according to the US Census. Both locations are considered to be situated in high traffic areas.
Shares in Jushi are currently down 5.14% to $1.66, with a market cap of $152.52 million.