Grown Rogue Acquires Stake in New Jersey Market

Grown Rogue International (TSE:GRIN) has released an update.

Grown Rogue International Inc., an Oregon-based cannabis company, has expanded its footprint by securing licensing approval in New Jersey and completing the acquisition of a 44% stake in ABCO Garden State, LLC. This strategic move, costing approximately $1.26 million paid in cash, is part of Grown Rogue’s broader plan to acquire up to 70% of ABCO, with further expansion contingent on regulatory approvals. The company is set to supply the flourishing New Jersey cannabis market, which has seen over $800 million in sales, demonstrating significant year-over-year growth.

For further insights into TSE:GRIN stock, check out TipRanks’ Stock Analysis page.