Vireo Growth Acquires Deep Roots Holdings for $132.7 Million
MINNEAPOLIS, June 09, 2025 – GLOBE NEWSWIRE – Vireo Growth Inc. (CSE: VREO; OTCQX: VREOF) has finalized its acquisition of Nevada’s Deep Roots Holdings, a significant player in the state’s cannabis market. The deal, valued at $132.7 million, was executed through the issuance of 255.2 million Subordinate Voting Shares at a reference price of $0.52 per share. This acquisition positions Vireo favorably, leveraging Deep Roots’ 54,000 square foot cultivation and manufacturing facility alongside its ten retail dispensaries strategically located in Southern Nevada.
Deep Roots, founded in 2023, has consistently performed well across diverse markets, holding investments in California and Ohio. The transaction represents a multiple of 4.175 times the projected EBITDA of $30 million for 2024, with clawback provisions in place should EBITDA dip below estimates by 2026. All selling shareholders will adhere to lock-up provisions that span 33 months.
Vireo Growth, established in 2014, aims to empower local leaders and enhance stakeholder relationships, committed to advancing within the cannabis sector. For more information, visit www.vireogrowth.com.
For inquiries, contact Joe Duxbury at investor@vireogrowth.com or call (612) 314-8995.
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