MedMen acquires troubled New York medical cannabis licensee

MedMen, a California-based marijuana management and consulting firm, has acquired Bloomfield Industries, a financially troubled New York cannabis business license holder that in recent months has been unable to pay vendors and has been casting for new investors. A New York Health Department spokeswoman emphasized to Politico that Bloomfield would not be transferring its license to MedMen, a move that is prohibited under state cannabis business laws. Rather, she described the transaction as a change in ownership, which is permitted if approved by the health department. Bloomfield Industries is one of five licensed medical marijuana companies ... MedMen acquires troubled New York medical cannabis licensee is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs