Arizona-based cannabis company Copperstate Farms Management LLC said it has agreed to acquire management rights and control of two marijuana licenses and dispensaries in North Scottsdale and Tempe in Arizona.
The two ‘Level Up’ medical marijuana dispensaries, formerly known as MedMen Arizona, were earlier the property of MedMen Enterprises, a California-based multi-state marijuana operator. The locations include dispensary retail spaces, as well as a 25,000 square-foot cultivation and processing warehouse.
Copperstate Farms noted that the acquisition of the Level Up operations will enable it to further expand its retail footprint and strengthen its market share in Arizona under its ‘Sol Flower’ banner.
The transaction follows the passage of Proposition 207 in the 2020 election, allowing recreational marijuana use and cultivation by adults 21 or older in Arizona.
Arizona became the thirteenth state in the U.S. to legalize the cultivation and sale of recreational marijuana. On Election Day, voters in Arizona approved Proposition 207. Arizona is already one of the largest medical cannabis markets in the country.
With the Level Up acquisitions, Copperstate Farms now controls four retail operations. The company’s Sol Flower dispensary brand features a public-facing classroom and café in Sun City, and an additional location in Tempe.
Copperstate Farms is home to the largest indoor cannabis facility in the U.S. The company operates a 1.7-million-square-foot facility and 40-acre greenhouse grow in Snowflake, Arizona. It is the parent company to multiple product lines, including ‘Good Things Coming’ edibles.
In April, Copperstate Farms and its partner DNA Genetics announced the launch of DNA Genetics-branded cannabis products in the U.S. The DNA-branded products are available at Copperstate’s Sol Flower dispensaries in Sun City and Tempe, Arizona.
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