Medically Correct, a longtime Denver-based marijuana edibles maker, announced it will not proceed with a proposed acquisition by Schwazze.
It’s one of several such deals to fall apart in recent months for Schwazze, also based in Denver.
“Our decision to terminate this acquisition comes as we shift our focus toward the development and national expansion of our new brands,” Bob Eschino, president of Medically Correct, noted in a news release.
“We want to continue to work alongside Schwazze as an ally in the space.”
Schwazze, formerly Medicine Man Technologies, went on an acquisition spree in 2019 and looked to be growing into a behemoth in Colorado.
But deals recently have fallen apart in which Schwazze was to acquire several Colorado-based businesses, including cultivator Los Sueños Farms, concentrates company Dabble Extracts as well as retailers Strawberry Fields and Colorado Harvest Co.