Scotts Invests $250M and Buys a NY Cannabis License

<p>Consolidation of the cannabis industry is inevitable as the market matures.</p><p>Heading into 2022, numerous forecasts predicted another flurry of M&A activity after an energized 2021. With nearly three months of the year complete, opinions are split on M&A activity so far.</p><p>A Canadian investment firm bankrolled by a unit of lawn and garden giant Scotts Miracle-Gro agreed to purchase New York-based marijuana company Etain Health for $247 million.</p><p>Toronto-based RIV Capital (OTC: CNPOF) said it signed an agreement to buy the female- and family-owned vertically integrated medical marijuana operator for cash and stock.</p><p>The transaction is believed to be the largest involving a female-owned business in the cannabis industry and gives RIV Capital – and, indirectly, Scotts Miracle-Gro – the opportunity to capitalize on the upcoming launch of New York’s adult-use marijuana market.</p><p>Etain, one of New York’s original five MMJ operators, has four dispensaries in the state, including a flagship store in Manhattan, and is in the process of expanding its cultivation and production facility in Chestertown.</p><p>The company was the only independent remaining among New York’s now 10 medical cannabis businesses. The other nine are multistate operators.</p><p>The #TalkingHedge...</p><p>https://youtu.be/U75Z4WbSO_I</p>