MedMen Backs Out of Ascend Wellness Deal

There is trouble a-brewing between Ascend Wellness Holdings (AAWH) and MedMen Enterprises Inc (MMNFF). Despite Ascends’ repeated attempts to close a deal to invest approximately $73M in MedMen NY, a MedMen subsidiary, MedMen is “refusing to close an is attempting to terminate the transaction.”

Ascend is committed to making the deal happen. In a January 3, 2022 press release, the company said that MedMen is sending a message that “cannabis companies cannot be trusted to keep their word.”

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