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  Cannabis  MariMed Completes $11 Million Acquisition of Delaware Cannabis Company
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MariMed Completes $11 Million Acquisition of Delaware Cannabis Company

Lars BeckersLars Beckers—March 5, 20250
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Massachusetts-based cannabis company MariMed has officially closed its $11 million acquisition of First State Compassion Center (FSCC), a Delaware medical marijuana business. The deal, which has been in the works since mid-2023, marks a major move for MariMed as it expands its footprint in the growing cannabis market.

A Strategic Move Years in the Making

MariMed and FSCC aren’t strangers. Their partnership stretches back nearly a decade, making this acquisition feel more like a natural progression than a sudden takeover. FSCC made history in 2014 by becoming the first licensed medical marijuana dispensary in Delaware.

MariMed has played a role behind the scenes for years, providing management and real estate services to FSCC while also supplying branded products like:

  • Betty’s Eddies fruit chews
  • Vibations drink mix
  • Nature’s Heritage flower

With the deal now finalized, MariMed gains full control over FSCC’s two medical cannabis dispensaries as well as its cultivation and processing operations.

Delaware’s Legal Shift Made the Deal Possible

Two key legal changes paved the way for this acquisition. First, Delaware legalized adult-use cannabis sales in April 2023, opening the door for future growth opportunities. Second, state regulators approved FSCC’s transition from a nonprofit to a for-profit business. That approval, which came through last Friday, was the final hurdle before MariMed could officially take over.

Jon Levine, CEO of MariMed, emphasized how important this moment is for the company:

“We have worked closely with FSCC’s incredible team to support its growth trajectory from the very beginning. We expect by fully integrating its operations, we will further build FSCC’s and our brands’ dominance in the market, while also improving our balance sheet.”

Expanding the MariMed Empire

MariMed has been actively expanding through acquisitions, adding FSCC to its portfolio alongside operations in Maryland, Massachusetts, and Illinois. The company’s strategy focuses on rolling up existing businesses into its brand, strengthening its position in both medical and recreational cannabis markets.

Here’s a look at MariMed’s recent acquisitions:

State Acquired Company Year
Maryland Kind Therapeutics 2022
Massachusetts Nature’s Heritage 2021
Illinois Green Growth Group 2023
Delaware First State Compassion Center 2024

With Delaware now in the mix, MariMed has secured a stronghold in another key market.

What This Means for Delaware’s Cannabis Market

This acquisition could reshape the cannabis landscape in Delaware. FSCC was already a dominant player, and now, with MariMed’s backing, its influence is likely to grow.

Some potential impacts include:

  • More Product Variety: With direct access to MariMed’s brands, Delaware consumers could see a wider range of edibles, beverages, and flower products.
  • Potential Expansion: If the state opens more retail licenses, MariMed could push to expand beyond FSCC’s existing dispensaries.
  • Industry Consolidation: As larger companies like MariMed absorb smaller operators, independent cannabis businesses may face more competition.

The next big milestone? The launch of adult-use cannabis sales in Delaware, which could turn FSCC into a major player in the recreational market.

MariMed’s Stock and Market Position

MariMed trades on the Canadian Securities Exchange and over-the-counter markets under the ticker MRMD. Investors have been watching its expansion closely, as the company continues to grow through acquisitions.

While cannabis stocks have been volatile, MariMed’s steady roll-up strategy suggests it’s playing the long game—acquiring businesses now in anticipation of larger market opportunities down the road.

With this latest deal closed, all eyes are on Delaware’s next regulatory moves and how MariMed positions itself for the future.

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Lars Beckers

Lars Beckers is a distinguished senior content writer at MMJ Gazette, bringing a wealth of experience and expertise to the realm of medical marijuana and cannabis-related content. With a deep understanding of the industry and a passion for sharing knowledge, Lars's articles offer readers comprehensive insights and engaging narratives in the dynamic world of cannabis. Known for his meticulous research, clarity of expression, and commitment to delivering high-quality content, Lars brings a seasoned perspective to his work, educating and informing audiences on the latest trends and developments in the field.

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