Medicine Man Technologies poised to take over another CO cannabis company

by Amanda Push

For the sixth time in three months, Denver-based Medicine Man Technologies announced its impending take over of another Colorado cannabis company.

Dabble Extracts, a Colorado Springs-based edible and extraction company, is the latest of the marijuana businesses to get bought out by the massive company, according to a news release from Medicine Man. Terms of the sale are a combination of Medicine Man stock and cash valued at about $17.25 million, or 1.25x anticipated annual revenue of $13.8 million. The deal is expected to close during the first half of 2020.

“This agreement will bring the manufacturer of numerous award-winning cannabis edibles and extracts under our umbrella, with existing distribution in close to 600 Colorado-based dispensaries,” said Andy Williams, co-founder and chief executive officer of Medicine Man Technologies. “These manufacturers are the creators of branded products that are market segment leaders and have won numerous awards in a multitude of categories and will further establish our leadership in Colorado. Reaching critical economies of scale, while offering depth and breadth in all cannabis product segments, is incredibly important for our business model.”

Not to worry, though. The Dabble Extracts brand will live on, according to Westword.

“Dabble’s not going anywhere,” Josh Hini, founder of Dabble Extracts, told the Denver alt-weekly. “I’m not cutting and running. I’m here to stay — and dabble.”

Amanda Push

Share:

Leave a Reply

Your email address will not be published. Required fields are marked *

Social Media

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.

Categories

On Key

Related Posts

DGO November 2023 Page 04 Image 0001

An Elevated New Year’s Eve

Cannabis Pairings for a Memorable Celebration As the countdown to the New Year begins, many are seeking unique ways to elevate their celebrations and bid

DGO December 2023 Page 04 Image 0001

High Reflections

Cannabis and Mindfulness Practices for the New Year The allure of fresh beginnings and self-improvement is in the air. For those seeking a unique and

DGO December 2023 Page 16 Image 0001

New Year Chapter One

Unlock the mysteries of the cannabis universe by aligning your strain choices with your astrological sign. Just as the stars influence our personalities, preferences, and

Receive the latest news

Subscribe To Our Weekly Newsletter

Get notified about new articles

Explore the weed life with DGO Magazine

Contact Information

Find Us Here:

Leave us a message