Washington state broker aims to sell bundle of 12 marijuana retailers for up to $70M

September 6, 2017 | Bart Schaneman

A dozen marijuana retail businesses in Washington state are employing an unusual strategy on the mergers and acquisitions front: package their assets together for a combination sale.

In a move that’s being described as “unprecedented,” Seattle-based investment bank GRN Funds is asking $60 million-$70 million for the 12 retail cannabis firms.

The ambitious plan has spurred questions about whether such a strategy can work, particularly after two Washington state cannabis entrepreneurs recently failed to sell their businesses together in a similar – albeit much smaller – fashion.

Washington state broker aims to sell bundle of 12 marijuana retailers for up to $70M