Have $95 million? Two Florida medical marijuana licenses are for sale
FloridaMarijuana Industry News October 15, 2019 MJ Shareholders 0
In a move uncharacteristic of the cannabis market in Florida, an Atlanta broker is searching for the next owners of two highly sought Florida medical marijuana licenses.
Aubrey Logan-Holland, the CEO of a relatively new firm called Blue Dream Industries, is listing the licenses, or “paper” in industry speak, for about $95 million in total.
One license is going for $40 million and allows the owner to operate no more than 30 retail stores. The other license is selling for about $55 million, with the rights to open up to 35 retail stores. In addition to the actual license, this deal includes a greenhouse for cultivation.
“Whoever acquires this asset will get a chance to stake their claim in one of the biggest medical markets in the world,” Logan-Holland told the Miami Herald. “It’s a good state to do business.”
The process of acquiring a medical marijuana license in Florida is arduous, and running the company is also challenging. Florida’s medical marijuana industry is vertically integrated, meaning the license holder is responsible for growing, processing, testing, marketing and selling the product without middlemen or contractors. [Read more at The Miami Herald]
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