Cannabist Company Acquired by Millstreet Credit Fund | Healthcare M&A Deal

Millstreet Credit Fund has completed the acquisition of Cannabist Company, a substance abuse treatment business in Virginia, for $130 million. Cannabist Company operates cannabis cultivation, production, manufacturing, distribution, and retail services through active Virginia locations in the Richmond region, supporting healthcare M&A demand for regulated substance abuse treatment access. The Millstreet Credit Fund acquisitions focus on VA acquisitions tied to approximately 82,000 square feet of cultivation and production capacity, with one additional retail site in development. The divestiture acquisition closed as a private equity acquisition, with $117.5 million paid at closing and $12.5 million held in escrow subject to purchase price adjustment and indemnification, following partial redemption of Cannabist’s 2028 senior secured notes.