Swade Cannabis, a St. Louis-based cannabis company, is set to nearly double its retail presence in Missouri by acquiring five dispensaries located in the Kansas City area. This acquisition involves BesaMe Wellness, which operates the dispensaries and has been a part of Missouri’s medical marijuana landscape since its inception in 2020.
The deal, while still awaiting final approval from the Missouri Department of Health and Senior Services, will allow Swade Cannabis to manage these locations under a Management Services Agreement (MSA) until the acquisition is officially finalized.
Joey Pintozzi, the Chief Strategy and Revenue Officer for Swade Cannabis, confirmed the plans in a recent statement, although he did not disclose the financial terms of the acquisition.
BesaMe Wellness, founded by a group of investors led by Jack Mitchell, has been one of the early entrants in Missouri’s medical marijuana market, operating since the state’s legalization of medical cannabis. With this acquisition, Swade Cannabis aims to expand its market share and strengthen its footprint in the rapidly growing Missouri cannabis industry.
This expansion is part of a broader trend in the cannabis market, as companies look to increase their retail outlets and consumer access in states where cannabis has been legalized. Swade Cannabis’s move reflects the competitive landscape of cannabis retail, where presence and accessibility can significantly influence market performance.
As the cannabis industry continues to evolve, retailers like Swade Cannabis are positioning themselves to capitalize on the growing demand for cannabis products, further solidifying Missouri’s place in the expanding national cannabis market.
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