MA Cannabis Retailer Nature's Remedy Bought For $91.2M

MILLBURY, MA — A national cannabis company will pay $91.2 million to buy the Massachusetts retailer Nature's Remedy, which operates dispensaries in Millbury and Tyngsborough, and a grow operation in Lakeville.

Jushi Holdings Co., with offices in Denver and New York City and cannabis dispensaries and manufacturing facilitates in seven states, has been in talks to buy Nature's Remedy since the spring, and had initially offered $100 million. The company said it plans to continue to expand Nature's Remedy in Massachusetts.

"With its strong, defensible retail position and a scalable cultivation footprint, Nature’s Remedy offers significant opportunities for us to expand and grow our presence in this rapidly maturing adult-use market," Jushi CEO Jim Cacioppo said in a news release.

Nature's Remedy opened its first Millbury dispensary in September 2019. The company was planning to open a store in Worcester at 142 Southbridge St., but sold it in June to Florida-based Truelieve for $13.5 million. The Truelieve store opened in mid-August the same weekend as Major Bloom — Worcester's twelfth and thirteenth cannabis stores.

The Jushi acquisition comes after another shakeup in the local cannabis market. New Dia, Worcester's first economic empowerment dispensary, was taken over in August by California-based Cookies.