Our Cannabis Team scored two victories this week, involving an M & A deal and a win with the City of Boston’s Zoning Board of Appeals.
On Monday, our client, Suterra Wellness, announced their agreement to acquire New England Treatment Access, a leading Massachusetts cannabis company. This cash and stock transaction is one of the largest deals to date in the U.S. cannabis industry. To learn more, read Surterra’s press release on the deal here.
On Tuesday, we had more good news, learning that our client, Ascend Massachusetts LLC, had secured zoning board approval for the first adult use dispensary in the city of Boston. Ascend, a Massachusetts-based company that also operates facilities in Michigan and Illinois, plans to open their dispensary on Friend Street in downtown Boston in late 2019. Even though Ascend anticipates a large volume of customers, Ross said in the Boston Business Journal that they are “confident [they] can bring people in and out without queueing” and without any disruption to the surrounding area. Read more about the story in The Boston Globe.