Cannabis company acquires area firm to form market giant

After Verano acquires AltMed, the resulting company will operate under the Verano name.

By Business Observer Staff
| 7:00 a.m. November 11, 2020
| 0 Free Articles Remaining!

File. Multi-state cannabis owner, operatorÂ and manager Verano HoldingsÂ LLC will acquire and combine operations with Sarasota-based Alternative Medical Enterprises LLC, Plants of RuskinÂ LLC and affiliated companies.

Manatee-Sarasota

SARASOTA — AltMed, a Sarasota-born rising star in the medical cannabis industry, has achieved another milestone: it has been acquired by one of the largest firms in the field, Verano Holdings LLC.

Chicago-based Verano, a multi-state cannabis owner, operator and manager, will acquire and combine operations with AltMed, under the name Alternative Medical Enterprises LLC, in addition to Plants of Ruskin LLC and affiliated companies. The combined company will keep the Verano name, according to a press release, and will create one of the top three largest cannabis companies nationwide. Terms of the deal were not disclosed.