Missouri-Based Proper Brands Agrees to Join Vireo Growth Inc. in $397 Million Merger Including Nevada, Utah Cannabis Brands
Proper Will Retain Its Renowned Cannabis Flower, Edibles Brands and Market Presence in Missouri as Vireo’s Footprint Expands to Seven States
ST. LOUIS--(BUSINESS WIRE)--Proper Brands, one of the leading independent operators in Missouri’s adult-use cannabis market, announces its merger agreement with parent company Vireo Growth Inc. (CSE: VREO), a medical cannabis pioneer that has grown into a robust “house of local operators” with a nationwide footprint.
“With this merger, we will have access to a larger pool of industry experts for best practices and joint resources to continue expanding Proper Brands’ portfolio of products for adult-use consumers and medical cannabis patients across Missouri.”
The merger includes Proper Brands in Missouri, as well as Deep Roots Harvest in Nevada, and WholesomeCo Cannabis in Utah. Vireo also holds a binding Memorandum of Understanding (MOU) to acquire The Flowery in Florida. Proper Brands will retain its existing leadership and identity, ensuring customers across Missouri continue to receive the premium quality and exceptional experiences they have come to expect.
“We’re building a bigger family,” said John Pennington, Founder and CEO of Proper. “This merger brings together the best local operators who share our values and passion. While this is a new chapter, our commitment to serving Missouri customers, employees and communities remains our top priority.”
The $397 million series of all-stock transactions—supported by a $75 million equity financing raise by Vireo—expands the company’s operations to seven states, nine facilities, 48 dispensaries, and 1,043,500 square feet of cultivation and manufacturing space.
“Proper remains unwavering in delivering what our passionate customers want: quality cannabis flower and extracts, as well as consistent, delicious edibles,” said Matt LaBrier, COO and Co-Founder of Proper. “With this merger, we will have access to a larger pool of industry experts for best practices and joint resources to continue expanding Proper Brands’ portfolio of products for adult-use consumers and medical cannabis patients across Missouri.”
About Proper Brands
Proper Brands is an award-winning, vertically integrated, multi-brand cannabis company dedicated to enhancing lives across Missouri. As announced on December 18, 2024, it is merging with Vireo. With a commitment to premium quality, exceptional experiences, and unparalleled customer service, Proper Brands operates 11 dispensaries statewide and two cutting-edge manufacturing facilities. The company’s diverse portfolio features a range of brands, including Proper Cannabis, Honeybee edibles, RATIO vaporizers and mints, and Goodnight sleep products. The company cultivates over 100 carefully selected strains and manufactures the highest quality extracts and edibles—blending large-scale efficiency with boutique craftsmanship. Proper Brands consistently sets the standard for excellence in cannabis, striving to redefine what is possible from cultivation to retail. Expect a higher standard at properbrands.com.
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