MariMed, a leading cannabis company, has recently expanded its retail footprint with the acquisition of Allgreens Dispensary, LLC in Illinois, marking its fifth Thrive-branded dispensary in the state. This move, finalized on April 9, 2024, follows the opening of a new processing facility in Mt. Vernon, Illinois, enabling the distribution of its top-selling brands across the state. Illinois, a high-growth market, reported over $1.6 billion in adult-use cannabis sales last year, with current regulations allowing operators to own up to 10 dispensaries, presenting further expansion opportunities for MariMed.
In addition to its Illinois expansion, MariMed has acquired the assets of Our Community Wellness & Compassionate Care Center in Prince George's County, Maryland. This acquisition introduces MariMed's second adult-use Thrive Wellness dispensary in Maryland, adding to its Annapolis location. The company's vertical integration in Maryland, supported by a cultivation and processing facility in Hagerstown, facilitates the statewide distribution of its products. These strategic acquisitions underscore MariMed's commitment to broadening its market presence and enhancing its portfolio in the rapidly evolving cannabis industry.
