On March 30, 2022, RIV Capital, an investment entity, completed the acquisition of Etain Health, a comprehensive marijuana business, for a total of $247 million. This strategic purchase was announced amid expectations that New York, having legalized recreational marijuana in March the previous year, is on track to outdo California as the foremost legal marijuana market. RIV Capital, formerly associated with Canopy Growth, agreed to pay $212 million in cash and around $35 million in shares to Etain. To fund the cash segment of the deal, RIV Capital planned to utilize part of the $150 million investment it received from Scotts Miracle-Gro's cannabis division after their separation from Canopy in 2020. Mark Sims, previously leading deal-making efforts at Scotts Miracle-Gro, was announced as the new CEO of RIV Capital, taking over from Narbé Alexandrian. Etain Health, a family-operated enterprise established in 2015, engages in the cultivation, processing, distribution, and retail sale of medical marijuana through four outlets in New York. Their product range includes wellness oils, oral sprays, and vape pens. With this transaction, RIV now has the capability to broaden its retail footprint to eight locations, including three that will serve adult-use customers. Sims highlighted the potential influence of the New York market, not only regionally but also nationally, due to its potential size and market dynamics.