Red White & Bloom Brands completed the acquisition of Florida operations from Acreage for $60m.

Red White & Bloom Brands, a producer of cannabis, completed the acquisition of Florida operations from Acreage, a multi-state operator of cannabis ‎cultivation and retailing facilities, for $60m. “The sale of our Florida operations is a significant step in our previously announced operating strategy to focus on those core markets that we believe will accelerate our path to profitability and position us for significant long-term growth and cash generation. The cash proceeds will significantly bolster our balance sheet and position us to accelerate our cultivation expansion projects and open additional dispensaries to support our growth into key adult-use cannabis states such as Illinois and New Jersey," Peter Caldini, Acreage CEO.