Longmont Marijuana Takeover Requires One Dispensary to Change Hands – Westword
Local licensing rules in Longmont could force one of the town’s dispensaries to close or be sold.
When Longmont City Council opted into recreational marijuana sales in 2017, the newly formed local rules limited the town to four dispensaries, and banned the same entity from owning more than one store. All four dispensary licenses were then awarded to dispensary chains, two of which — Medicine Man and the Green Solution — were eventually acquired by Columbia Care Inc., a publicly traded marijuana corporation in New York.
After sealing the Green Solution deal in 2020, Columbia Care paid $42 million in a stock-heavy acquisition for Medicine Man earlier this year, announcing that the deal added “one cultivation facility and four dispensaries to Columbia Care’s Colorado operations.” At the time, Medicine Man owned four dispensaries in Colorado, with stores in Aurora, Denver, Longmont and Thornton.
However, Columbia Care CEO Nicholas Vita didn’t include Longmont among the towns in his statement praising the deal, only listing Aurora, Denver and Thornton. And despite announcing that the deal added four Medicine Man dispensaries to Columbia Care’s portfolio, the company now says in a statement to Westword, “Columbia Care acquired three Medicine Man dispensaries, excluding Longmont,