Tennessee-based investment firm Big Plan Holdings (BPH) is joining forces with cannabis retailer and cultivator Silver Therapeutics to acquire $35 million worth of cannabis commercial real estate and operations in New England.
The companies are initially focusing on targets in Maine, Massachusetts and Vermont, but plan to expand across the country, according to Vermont Business Magazine.
BPH will invest $35 million into the venture and the two companies will share ownership of its acquisitions.
BPH is a Nashville-based family office with investments in cannabis, real estate, music, entertainment, professional sports, and hospitality.
The company was founded by Josh Joseph, co-CEO of BPH, who previously founded Illinois-based Grassroots Cannabis, which was sold to marijuana multistate operator Curaleaf Holdings in 2020 in a deal valued at $700 million.
Silver Therapeutics operates dispensaries in Maine, Vermont and Massachusetts.
The partnership will also mean Joseph and Michael Mook – the latter is chief operating officer of cannabis investment firm Next Titan Capital as well as chief strategy officer of BPH – will join the board of Silver Therapeutics.
“Their exceptional expertise, proven track record of successes and diverse perspectives will undoubtedly enrich our strategic vision as we continue to lead the way in the cannabis industry’s innovation and growth,” Josh Silver, CEO of Silver Therapeutics, told Vermont Business Magazine.
