Holliston Cannabis Cultivator Bought For $55 Million

HOLLISTON, MA — A multistate cannabis company that owns three local dispensaries is buying a large grow facility based in Holliston.

4Front, which owns three Mission Dispensaries stores in Massachusetts, will pay $55 million for the New England Cannabis Corporation (NECC) facility along Everett Street. The grow operation is about 55,000 square feet.

"The addition of NECC’s impressive operations will increase our canopy, kitchen capacity, and add to our extraction capabilities overnight, greatly bolstering our position in the Massachusetts market to become a leading wholesaler of our full suite of products and brands," 4Front CEO Leo Gontmakher said in a news release.

With the acquisition of NECC, 4Front will own cannabis cultivation facilities in four states, including Washington, California and Illinois. The company also operates Mission Dispensaries stores in Ann Arbor, Mich., Chicago and Calumet City, Ill. In Massachusetts, the stores are located in Worcester, Georgetown and Brookline.