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Standard Wellness Holdings, LLC expands its medical cannabis footprint in Utah by acquiring Cannabist pharmacy

Mar 25, 2024•over 1 year ago

Acquiring Company

Standard Wellness

Acquired Company

Cannabist Company

ClevelandNew YorkAlternative MedicineCannabisHealth CareOther

Description

Standard Wellness Holdings, LLC has expanded its medical cannabis footprint in Utah through the strategic acquisition of the Cannabist pharmacy in Springville. The pharmacy will continue its operations under the name The Forest Springville, offering a wide variety of safe and effective cannabis products to the patients of Utah.

Company Information

Company

Standard Wellness

Location

Cleveland, Ohio, United States

About

Standard Wellness Holdings, LLC, founded in 2017, is a vertically integrated medical cannabis company with licenses to cultivate, process, and dispense in Ohio, Missouri, and Utah. The company operates retail locations under The Forest brand and has approximately 250 employees across several states. Its mission is to improve quality of life through safe and easy access to cannabis.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed