Florida-based Fluent Corp. sold its Annville dispensary, along with its other Pennsylvania dispensaries in Hanover and Mechanicsburg, in a Dec. 31, $12.5-million cash deal with HIVE Holdings Inc.
In 2022, the dispensary opened in the former Napoli’s Pizza building at 1015 E. Main St., Annville.
According to a report by BizNewsPA, the dispensaries were sold as part of an effort by Fluent to simplify its business and concentrate on what it called its “most strategic markets.”
“This transaction is an important step forward for FLUENT,” said Dave Vautrin, interim chief executive officer of FLUENT, in a press release. “By divesting our Pennsylvania operations, we are strengthening our balance sheet, reducing leverage, and sharpening our strategic focus on markets where we see the greatest near and mid-term opportunity.”
BizNewsPA reported that efforts to reach HIVE and determine whether it has any existing operations in Pennsylvania had not yet been successful. It was not immediately clear if HIVE Holdings is the same entity that operates Hive dispensaries in Williamsport, State College, and Shamokin Dam.
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