Chicago cannabis company acquires The Healing Center for $110 million

PITTSBURGH — Chicago-based Verano Holdings Corp., a multi-state cannabis company, closed on several previously announced deals, one of which being western Pennsylvania-based The Healing Center for $110.3 million. The company also announced it closed on deals to acquire TerraVida Holistic Centers LLC, GVB Holding Group LLC and NSE Pennsylvania LLC.

As part of its acquisition of The Healing Center, Verano will obtain the center’s three medical marijuana dispensaries in Cranberry Township, Monroeville and Washington, Pennsylvania. The Healing Center’s management team will remain with the company, which was co-founded by president Jay Richards and CEO Chris Kohan.

“We are very excited about the future with Verano, a true operator in the cannabis industry who is not only focused on fiscal responsibility, but culture as well,” Richards said in a release. “These were key factors in our decision for the sustained viability of what we have built and, most importantly, for our employees’ long-term success and mobility.”