Trulieve Faces Serious Competition As Planet 13 Enters Florida Market Via $48M Deal
Portfolio Pulse from Jelena Martinovic
Planet 13 Holdings Inc. has announced a $48.9 million deal to acquire VidaCann, LLC, a move that will make it a direct competitor to Trulieve in the Florida market. The deal includes VidaCann's 26 dispensaries, a greenhouse cultivation facility, and a processing and analytical lab. Post-transaction, former VidaCann equity holders and the VC Advisor will have approximately 26.09% pro forma ownership in Planet 13.
August 28, 2023 | 6:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Trulieve could face increased competition in the Florida market due to Planet 13's acquisition of VidaCann.
As Planet 13 enters the Florida market through the acquisition of VidaCann, Trulieve could face increased competition, which may negatively impact its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Planet 13's acquisition of VidaCann could potentially boost its market presence and competitiveness in Florida.
The acquisition of VidaCann will give Planet 13 a significant presence in the Florida market, which could potentially boost its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100