TPCO Holding Corp – The Parent Company – (NEO:GRAM) (OTCQX:GRAMF) has signed a definitive agreement to acquire 100% of the equity of dispensary Calma West Hollywood for a total consideration of $11.5 million.
The company said the agreement remains subject to regulatory approvals, including approval by the City of West Hollywood.
The Parent Company said the 3,250 square foot dispensary is one of only 10 stores in the West Hollywood area that is licensed for both delivery and storefront retail.
With more than 3.6 million visitors per year, West Hollywood is situated in the core of the Los Angeles region, surrounded by cultural destinations and tourist attractions in every direction. The Los Angeles metropolitan area also has a cannabis retailer density of one store for every 194,000 people in the region.
The Parent Company said the acquisition of Calma increases its current California retail footprint to four, with two operating locations in San Jose and one in Bellflower. Also, to ensure Calma remains a staple in West Hollywood, the Calma founders will remain involved with the operations of the business.
“We are thrilled to be expanding our retail