Southern Bloom Acquires Red White & Bloom’s Florida Cannabis Operations

Southern Bloom Botanicals has acquired the Florida cannabis operations of Red White & Bloom Brands in a transaction that closed July 14.

The Florida Office of Medical Marijuana Use (OMMU) authorized the transaction and approved the change of control for Red White & Bloom’s licensed Florida operations.

Red White & Bloom is a publicly traded cannabis company with operations in Canada and the United States. The company’s Florida operations are now part of Southern Bloom Botanicals following the acquisition.

Ballard Spahr’s Mergers and Acquisitions Group advised Southern Bloom on the transaction. Partner Ryan J. Udell and Counsel Adam J. Chelminiak led the M&A team.

Partner Catherine M. LaGrange and Associate Melissa Rezzag of Ballard Spahr’s Commercial Finance Group advised on financing matters. Senior Counsel John J. Eagan of the firm’s Tax Group advised on tax structuring.

The transaction required regulatory approval from Florida’s OMMU as part of the change of control of the licensed cannabis operations.

Florida operates a medical cannabis program overseen by the OMMU, which regulates licensed businesses involved in the cultivation, processing, transportation and dispensing of medical marijuana.

Ballard Spahr is an Am Law 100 law firm with more than 750 lawyers across 19 U.S. offices. Its practice areas include transactions, litigation and regulatory compliance.

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