PITTSBURGH - March 3, 2021 – Buchanan Ingersoll & Rooney served as counsel for TerraVida Holistic Centers, LLC in its agreement and planned merger with a subsidiary of Verano Holdings Corp. The merger consideration includes cash consideration of $62,500,000 and Class A Shares or Class B Shares of Verano Holdings equivalent to 3,013,500 Class A Shares on an as converted basis, including a minimum of 1,506,750 Class A Shares.
TerraVida operates three of Pennsylvania’s leading medical dispensaries in Southeastern Pennsylvania. TerraVida’s highly regarded female-led management team will stay in place following the acquisition.
“We were proud to help TerraVida with this transaction,” said Joe Centeno, Shareholder and Co-Chair of Buchanan’s Labor & Employment section. “TerraVida has built a remarkable organization that is a market leader in Pennsylvania and will be a valuable addition to the Verano portfolio.”
The Buchanan team included Brian North, Richard DiStefano, Shareholders in the Corporate section, Joe Centeno, John Warner, Shareholder in the Tax section, Andrew Giorgione, Shareholder in the Government Relations group, and Audrey Distler, Associate in the Corporate section.