Cannabis MSO Tilt Holdings sells Massachusetts store, closing another

Multistate operator Tilt Holdings is divesting itself of two cannabis stores in Massachusetts.

Under terms of a transaction valued at $2 million, single-state operator In Good Health is acquiring Tilt’s Commonwealth Alternative Care in Taunton and the MSO is shutting down its Brockton store, according to a Monday news release.

The deal is expected to close in the first half of 2025.

In Good Health is based in Brockton and already has a store there.

Arizona-headquartered Tilt still owns one retail location in Massachusetts, in Cambridge, but the company’s website says that store is “Closed for Renovations Until Further Notice.”

“This divestiture marks an important first step in Tilt’s execution of strategic transactions aimed at optimizing our balance sheet and operating expenses,” CEO Tim Conder said in a statement.

“We are making steady progress in identifying and executing strategic alternatives for our plant-touching assets, including cultivation and manufacturing operations in Massachusetts, Pennsylvania and Ohio.”

In Good Health President and CEO David Noble said the acquisition enables the company to bring its signature brands and affordable products to a new community.

“We are excited about adding to our Massachusetts retail footprint and providing a new cannabis experience for Taunton-area residents, some of whom we have been serving for years in our Brockton dispensary,” Noble said.

“Taunton is a perfect third point on the triangle with our Brockton location to the north and Sandwich to the east, and this location will allow us to efficiently move resources within this territory to best meet the needs of our customers.”

In Good Health is privately held.

Shares of Tilt – whose portfolio includes technology, hardware, cultivation and production companies – trade as TILT on Canada’s NEO Exchange and as TLLTF on the over-the-counter markets.