When the Virginia Cannabis Control Authority chose a medical marijuana provider for a large portion of the state last month, they unleashed the winning company to build cultivation, distilling, and retail facilities – and those that were not chosen, to mount a legal challenge to the selection process.
After 41 applicants were whittled down to 33 finalists, the authority chose the provider for "Health Service Area 1" by random lottery. AYR Wellness is the parent company that won. They operate nearly a hundred dispensaries across eight states. According to their application, AYR is making a capital investment of $20 million into their Virginia subsidiary.
George DeNardo: "I have been involved with the Virginia medical market since its conception with other operators. I'm very familiar with what the patients are looking for."
George DeNardo, AYR's chief operating officer, came to the company after several years with Columbia Care, according to LinkedIn. That's now known as The Cannabist Company, which operates dispensaries around Richmond.
Read more at WMRA.