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Chicago Company Acquires 6 Arizona Dispensaries


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ZenLeaf

A leading multi-state cannabis company announced it has closed on its Arizona acquisitions of Territory Dispensary, Emerald Dispensary and Local Joint Dispensary.

Verano Holdings Corp. now has the third largest retail footprint in Arizona with six active cannabis retail stores, plus two cultivation facilities.

Transaction Highlights:

– Territory Dispensary
The transaction included three premium, high-traffic dispensaries located in Mesa, Chandler and Gilbert, plus approximately 20,000 sq. ft. of cultivation and processing in Winslow, and two real estate locations.

– Emerald Dispensary
The transaction included one highly productive dispensary in Central Phoenix.

– Local Joint Dispensary
The transaction included one highly productive dispensary, primely located just minutes from the Phoenix airport and the densely-populated university campus community.

Verano will likely rebrand the dispensaries under the retail brand name Zen Leaf or MÜV.


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Arizona legalized marijuana for recreational use in November 2020. The law allows adults aged 21+ to purchase, possess and use cannabis. State-licensed cannabis dispensaries began selling recreational marijuana in early 2021. There are over 150 dispensaries in Arizona — a majority of them are in populous areas such as Phoenix, Tucson and Flagstaff. Recreational cannabis delivery services began operating in 2024.  


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