[PRESS RELEASE] – MINNEAPOLIS, June 9, 2025 – Vireo Enlargement Inc. introduced that it has closed its in the past introduced transaction to obtain Nevada-based Deep Roots Holdings Inc.
Deep Roots was once based in 2023 and is a constantly cast operator in Nevada’s mature hashish marketplace, with a 54,000-square-foot cultivation and production facility and ten energetic retail dispensaries. The corporate maintains sturdy relative efficiency because of favorable contributions from strategically positioned retail outlets in Southern Nevada at the Utah border. Additionally, it holds fairness and debt investments in a retail chain in California, and a vertical operator in Ohio and Massachusetts.
Overall attention for the transaction was once $132.7 million, paid within the type of 255.2 million subordinate vote casting stocks of Vireo at a reference value in line with proportion of $0.52. The acquisition value of the Deep Roots transaction represents a a couple of of four.175x 2024 “ultimate EBITDA” of $30 million. The transaction is matter to claw-back provisions if 2026 EBITDA is underneath ultimate EBITDA as of Dec. 31, 2026. The marketing shareholders agreed to voluntary proportion lock-up provisions, with tranches of stocks won in reference to the ultimate unlocking over a 33-month length.
