New York Weed Giant The Cannabist Is Selling Its Florida Business, Here's Why
Portfolio Pulse from Jelena Martinovic
The Cannabist Company Holdings Inc. (formerly Columbia Care) is restructuring to improve profitability, including divesting its Florida assets. The company expects $10 million in annual cost savings and has $2.75 million in escrow for these transactions. The restructuring aims to simplify operations and focus on profitable markets.
June 17, 2024 | 4:34 pm
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The Cannabist Company is divesting its Florida assets and expects $10 million in annual cost savings. The restructuring aims to simplify operations and focus on profitable markets.
The divestment of underperforming assets and focus on profitable markets is likely to improve the company's financial health, leading to a positive short-term impact on the stock price.
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