3 Things You Need to Know If You Buy Vireo Growth Today

2026-02-05 21:20:00 ET

Vireo Growth (OTC: VREOF) , a cannabis grower and retailer with 166 dispensaries across 10 states, made a big change on Jan. 28 when it agreed to purchase the Hawthorne Gardening subsidiary from Scotts Miracle-Gro (NYSE: SMG) for an undisclosed amount of shares of Vireo. The deal is expected to close in the first or second quarter of 2026. Hawthorne sells nutrients, lighting, and other materials for indoor and hydroponic gardening in North America, much of which is designed for cannabis growing.

Vireo is one of the fastest-expanding cannabis companies. In late December, the Minnesota company purchased the Eaze brand for $47 million, giving it a footprint in key markets, including Florida and California, as well as additional operations in Colorado, all part of Vireo's aggressive expansion efforts. Just weeks before the Eaze acquisition, it spent $49 million to buy the Colorado assets of PharmaCann, giving Vireo an additional 17 dispensaries in the state, bringing its total to 41. In October, it bought out the outstanding senior notes of Medicine Man Technologies, doing business as Schwazze, for $62 million in Vireo stock. This means Vireo is the majority owner of the restructured company and allows it to sell, keep, or retain some or all of Schwazze's 46 dispensaries and two manufacturing plants in Colorado and New Mexico.

Vireo also absorbed Nevada cannabis company Deep Roots Harvest and Missouri company Proper Brands in 2024, along with WholesomeCo Cannabis in Utah.

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