Jushi Holdings Inc (OTC: JUSHF) has signed a definitive agreement to acquire 80% of the economic and voting interests in Pennsylvania's Agape Total Health Care.
Agape has the ability to open three dispensaries, which will be in the Philadelphia region, Reading and Pottsville. The acquisition follows that of Franklin Bioscience.
Upon closing of the Agape transaction, Jushi will operate the Agape and FBS dispensaries under the BEYOND/HELLO brand, up to 15 in the Commonwealth - which is the current maximum allowable number of permits that can be operated by one company or its affiliates in Pennsylvania, outside of the Clinical Registrant program.
"Jushi will operate five retail locations under the BEYOND/HELLO brand with a plan to open four more during the fourth quarter of 2019 once this deal is complete,” said Jushi CEO and Chairman Jim Cacioppo.
“All of the current and prospective locations are or will be located in heavily populated communities providing more access to state-approved medicinal treatments. Achieving such a strong presence in a limited license medical market such as Pennsylvania in this short amount of time has enabled us to continue to build our broader geographical footprint and retail strategy."
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