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[PRESS RELEASE] – DOWNEY, Calif., July 3, 2025 – Blüm Holdings Inc., a California-based publicly traded holding company and cannabis operator, announced that it has signed a binding agreement to acquire the majority of the membership interests in another licensed adult-use and medical cannabis dispensary in Northern California.
This marks Blüm’s latest strategic acquisition as it continues to scale its retail platform across California. The new dispensary will join Blüm’s growing portfolio, which includes three other Northern California stores and a recently acquired Bay Area location.
The transaction is structured as an all-stock deal, valuing the business at up to $5 million, including performance-based earn-outs tied to revenue and EBITDA benchmarks. Under a management services agreement (MSA), Blüm is set to begin integration on July 1, 2025, assuming key centralized functions such as compliance, accounting, marketing and finance.
“We are deeply honored that this group of seasoned operators chose to entrust their business to Blüm,” Blüm Holdings CEO Sabas Carrillo said. “This deal reflects our ongoing commitment to partnering with strong operators who share our values and performance standards, while we provide the support and infrastructure to unlock further growth.”
The dispensary has established a strong presence in its local community, supported by consistent financial performance and an experienced, customer-focused leadership team. The earn-out structure is designed to align incentives and reward continued success.
Blüm Holdings has made meaningful progress in executing its turnaround strategy and positioning itself for long-term growth through disciplined acquisitions, operational excellence, and brand-forward retail execution. The company continues to identify and partner with operators who bring local expertise, cultural alignment and a proven track record.
“We didn’t get here alone,” Carrillo said. “This transaction reflects not just a business milestone, but a collective win for everyone who believed in us—our shareholders, advisers, teammates and partners. We’re just getting started.”
The transaction is expected to close upon the completion of definitive agreements and customary closing conditions. Closing is targeted for Q3 2025. No assurances can be provided that definitive agreements will be successfully negotiated, executed or closed, or that necessary regulatory approvals will be obtained.
