Verano’s Acquisition of Connecticut Pharmaceutical Solutions

Winston & Strawn represented Connecticut Pharmaceutical Solutions in the transaction.

Connecticut Pharmaceutical Solutions, Inc., a portfolio company of Tuatara Capital, L.P completed its sale to Verano Holdings Corp., a leading multi-state cannabis company.

Connecticut Pharmaceutical Solutions owns an operating cultivation and production facility in Rocky Hill, CT. The transaction to acquire 100% of the equity interests in Connecticut Pharmaceutical Solutions, Inc., includes an active, 216,532 sq. ft. state-of-the-art cultivation and production facility in Rocky Hill, Connecticut.

Aggregate proceeds for the transaction include US$113,250,000 in subordinate voting shares of the Company upon the consummation of the transaction, US$18,500,000 in subordinate voting shares of the Company upon the first adult-use sale of cannabis in Connecticut, and additional subordinate voting shares based on achieving 2021 EBITDA performance milestones. The agreement was signed on November 10, 2021.

The Winston & Strawn team included Kyle S. Gann (Picture), Robert B. Heller, Bradley C. Vaiana, Eric Brandon Kaufman, and Adam C. Lanza.

Involved fees earner: Kyle Gann – Winston & Strawn; Robert Heller – Winston & Strawn; Eric Kaufman – Winston & Strawn; Adam Lanza – Winston & Strawn; Bradley Vaiana – Winston & Strawn;

Law Firms: Winston & Strawn;

Clients: Connecticut Pharmaceutical Solutions;