Ayr Wellness (CSE: AYR.A, OTCQX: AYRWF) (“Ayr” or the “Company”), a leading vertically integrated U.S. multi-state cannabis operator (MSO), today announced the opening of its newest dispensary in Pinellas Park Florida, its 44th in the state.
“We are thrilled with our progress to date in Florida, a market where we see tremendous upside and growth potential. With 44 stores now open, at least 21 additional stores expected in prime locations in 2022, and significant improvements to our cultivation and production operations driving increased quality and volume, Florida promises to be a significant driver to growth and shareholder value in quarters and years to come,” said Jon Sandelman, Founder, Chairman and CEO of Ayr Wellness.
The new dispensary will occupy over 2,700 square feet of prime retail space on one of the most heavily traveled routes in Pinellas County, population over 900,000, according to the U.S. Census Bureau. The store will have six points of sale and feature Ayr’s leading portfolio of premium offerings including Origyn Extracts, Secret Orchard Sun Gems and fruit-forward vapes, Big Pete’s Cookies, and a selection of high-quality flower, including whole flower and pre-rolls.
In February 2021, Ayr purchased Florida-based Liberty Health Sciences (“LHS” or “Liberty”), which included 31 dispensaries across the state. Since then, the Company has opened 13 additional locations – bringing the current total to 44 stores.
Earlier this year, Ayr relocated its U.S. headquarters from New York City to Miami, underscoring the Company’s commitment to the region. With ~658,000 enrolled patients, Florida’s cannabis market ranks third in the nation by total cannabis sales, per BDSA, and generated over $1.23 billion in medical cannabis revenue in 2020. BDSA forecasts Florida’s cannabis market will rake in $2.6 billion by 2026.
