TPCO Holding Corp. also known as The Parent Company (OTCQX: GRAMF) is buying a West Hollywood, CA dispensary named Calma West Hollywood in a deal valued at $11.5 million. It is expected to close in the third quarter of 2021. The transaction is made up of $8.5 million in cash and $3.0 million in shares of The Parent Company.
Calma is located in the Los Angeles metropolitan area, with a population of approximately 18.7 million people and a cannabis retailer density of approximately one store for every 194k people in the region. The 3,250 square foot dispensary is one of only ten stores in the West Hollywood area that is licensed for both delivery and storefront retail.
“We are thrilled to be expanding our retail presence in the iconic West Hollywood region and look forward to continuing to provide our clients with the exceptional selection and retail experiences they’ve come to expect from us,” said Steve Allan, Chief Executive Officer of The Parent Company. “Strategically positioned in a high-traffic, high-population region of Los Angeles, this acquisition enables us to expand our reach to a broader potential audience of consumers and patients with both in-person retail and delivery options.”
TPCO said in a statement that with more than 3.6 million visitors per year, West