On December 18, 2024, Vireo Growth Inc., listed on the Canadian Securities Exchange (CSE: VREO), secured USD $75 million (CAD $102 million) in equity financing and agreed to acquire four U.S. cannabis operators—Proper Brands (Missouri), Deep Roots Harvest (Nevada), WholesomeCo Cannabis (Utah), and The Flowery (Florida)—for USD $397 million (CAD $541 million) in all-stock deals. These acquisitions expanded its footprint to seven U.S. states with 48 dispensaries and over 1 million square feet of cultivation space.

The transactions included integrating the Arches cannabis delivery and analytics platform. Moelis & Company LLC advised Vireo, with Dorsey & Whitney LLP as legal counsel. Cassels Brock & Blackwell LLP acted for Proper Brands and Deep Roots Harvest.