Recreational Pot Shop New England Treatment Access Sold to Georgia-Based Cannabis Firm - NECN
Massachusetts

Massachusetts

The latest news from around the state

Recreational Pot Shop New England Treatment Access Sold to Georgia-Based Cannabis Firm

Financial details have not been released between NETA and Surterra Wellness

    processing...

    NEWSLETTERS

    Recreational Marijuana Arrives in Massachusetts

    On a historic Tuesday in Massachusetts, the East Coast's first two recreational pot shops opened to customers.

    (Published Tuesday, Nov. 20, 2018)

    The owner of one of the first recreational marijuana stores to open on the U.S. East Coast says it has agreed to be sold.

    New England Treatment Access in Massachusetts has been acquired by Atlanta-based Surterra Wellness, which operates medical marijuana dispensaries in Florida and Texas and recently announced an expansion to Nevada. The companies announced the deal Monday.

    Financial details weren't released, though the statement called the cash and stock transaction, "one of the largest acquisitions to date in the U.S. cannabis industry."

    Massachusetts regulators must approve the sale.

    NETA opened a retail marijuana store in Northampton in November. The company also operates a dispensary near Boston and a growing facility in Franklin.

    Surterra's chief executive is William "Beau" Wrigley, Jr., formerly the CEO of Chicago-headquartered chewing gum maker, Wrigley Company.

    Here's What the 1st Day of Legal Marijuana Sales Looked LikeHere's What the 1st Day of Legal Marijuana Sales Looked Like

    Get the latest from necn anywhere, anytime

    • Download the App

      Available for IOS and Android