Talk of Ayr’s exit gained traction after Connecticut Cannabis Ombudsman Erin Gorman Kirk mentioned in a podcast and CT News Junkie interview that Ayr was reportedly considering selling its sole Connecticut license—a move mirroring Acreage Holdings’ recent retreat from the state.
Rob Vanisko, spokesperson for the Florida-based company, emphasized that Ayr’s Manchester dispensary—run in partnership with a social-equity license holder—continues to operate as usual.
This Connecticut episode comes during a broader period of consolidation for Ayr. The company is reportedly offloading Illinois stores amid a mounting debt burden—losing $133 million in Q4 2024—and eyeing a potential $358 million in loans maturing by 2026. With a heavy focus on key markets—Florida, Massachusetts, New Jersey, Nevada, Ohio, and Pennsylvania—Connecticut ranks low in the company’s strategic roster.
Connecticut’s highly regulated and vertically integrated cannabis system poses significant barriers to entry. Strict licensing fees—including a $3 million cultivation fee—and tight rules around product naming and licensing have made the state a tough market, especially for out-of-state MSOs. Exiting Connecticut could have ripple effects for Ayr’s social equity partner, Tiana Hercules, a former Hartford councilwoman whose business interests are tied to the dispensary.
For now, Ayr appears committed to staying—at least publicly. But with debt maturities looming and a sharpened focus on core states, its long-term strategy for Connecticut remains unclear. Those watching the market should keep an eye on how regulatory complexity and financial pressures continue to shape MSO decisions in smaller jurisdictions.
Dabbin-Dad Newsroom
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