Ascend Wellness Holdings, Inc. Executes Definitive Agreement to Acquire its Second Cultivation License in Massachusetts
February 22, 2024 at 07:39 am EST
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Ascend Wellness Holdings, Inc. announced the execution of a definitive agreement to acquire its second cultivation license and
associated operations in Massachusetts. The targeted acquisition, situated in Amesbury, is currently pending regulatory approval, which is expected to be granted in the first half of 2024. In the intervening period, AWH will operate the facility under an interim consulting agreement. The Amesbury facility boasts a spacious 54,000 sq. ft. area, with plans for a targeted investment to encompass 15,000 sq. ft. of canopy and a kitchen. When combined with AWH's existing cultivation and production facility in Athol, Massachusetts, this move will elevate the Company's total cultivation space in the state to an impressive 70,000 sq. ft. of canopy. The expansion is a response to the increasing demand for AWH's products in Massachusetts, underscored by the resounding success of the Simply Herb brand, which AWH introduced in the state less than two years ago. Simply Herb has swiftly ascended to the top spot1, capturing a meaningful sales lead over the second highest-ranked brand in the entire state.
Ascend Wellness Holdings, Inc. is a vertically integrated multi-state cannabis operator. The Company is focused on operating in adult-use or near-term adult-use states in primarily limited license markets. It is engaged in cultivation, manufacturing, and distribution of cannabis consumer packaged goods, which are sold through Company-owned retail stores and to third-party licensed retail cannabis stores. The Company has licenses and assets in Illinois, Massachusetts, Maryland, Michigan, New Jersey, Ohio, and Pennsylvania. It produces and distributes its in-house Common Goods, Simply Herb, Ozone, Ozone Reserve, Royale, and Tunnel Vision branded products. The Company operates cultivation facilities in six states with approximately 245,000 square feet of total canopy. Common Goods is a no-frills brand that offers high value cannabis for everyday consumption. The brand comes in flower and pre-rolls. Ozone Reserve comes in exotic flower, refined concentrates, purified oils, and vapes.
ASCEND WELLNESS HOLDINGS, INC. 
