Ayr Wellness Enters Agreement to Acquire Dispensary 33 in Chicago
MIAMI, Florida, November 22, 2021 – PRESS RELEASE – Ayr Wellness Inc. (Ayr), a vertically-integrated cannabis multistate operator, has agreed to acquire Gentle Ventures, LLC (Dispensary 33) and certain of its affiliates that collectively own and operate two licensed retail dispensaries in Chicago, Ill.
« In any market where we operate, our goal is to develop scale and meaningful presence, » said Jonathan Sandelman, Ayr founder, chairman and CEO. « Today’s announcement builds on our existing foundation in Illinois, which we began building just a few months ago with the proposed acquisition of two stores in Quincy, Illinois. Since then, we have sought opportunities to deepen our presence, beginning with our social equity partner, Land of Lincoln, which was selected for a dispensary license in Bloomington, and today’s proposed acquisition of Dispensary 33 in Chicago, which, when completed, will give us a presence in two of Chicago’s most desirable neighborhoods. We will continue to seek opportunities to expand in Illinois. »
Dispensary 33 operates two locations in Chicago, one on the lively N Clark Street in Andersonville, and the other on W Randolph Street in West Loop, a former industrial meatpacking district that has become one of Chicago’s most popular neighborhoods for restaurants, nightlife and hospitality.