Ann Arbor-based cannabis company Skymint has acquired 3Fifteen Cannabis and closed $78 million in funding, the companies announced Tuesday.
According to a press release, following the acquisition the company now has 730 employees across 27 retail locations, with more than 18 others on the way — giving the company the largest retail footprint in the nation's third-largest cannabis market.
“Skymint was founded on a mission to become a leader in the cannabis industry while leveraging our leadership position as a positive catalyst for change,” the company's CEO and co-founder Jeff Radway said in a statement. “With this acquisition of 3Fifteen Cannabis, we have a monumental opportunity and responsibility to truly shape the market for the better, bring more jobs to our state, provide Michiganders increased access to clean, handcrafted, premium products and experiences at the best value, and continue our commitment to uplift the communities we are fortunate to serve. Most importantly, as one of the top private cannabis operators in the country, we have a chance to play a leading role in the Great American Growth Story that is cannabis.”
“We couldn’t be more excited to have a partner like Skymint to execute our shared vision for aggressive expansion,” Tommy Nafso, President and General Counsel of 3Fifteen, said in a statement. “Skymint’s operational efficiencies and meticulous focus on quality, combined with best-in-state cultivation operations and innovative approach to retail, creates the perfect operating environment for continued success.”
According to Forbes, Radway says the company intends to expand throughout the Midwest and East Coast.