iAnthus Capital Holdings is buying Illinois vape brand Cheetah Enterprises in stock deal | Cannabis Law Report | How to buy Skittles Moonrock online

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Marijuana multistate operator iAnthus Capital Holdings is buying Illinois vape brand Cheetah Enterprises in an all-stock deal valued at $1.5 million.

The acquisition is key to iAnthus’ “ongoing strategy to elevate its portfolio” of marijuana brands and “drive long-term growth,” the company said in a news release.

Cheetah, based in Chicago, offers premium live resin vape products.

With the addition of Cheetah, New York- and Toronto-headquartered iAnthus expands its presence in the Illinois and Pennsylvania cannabis markets, the release noted, with additional expansion planned throughout 2025.

“We are building a platform where bold brands can thrive, and Cheetah fits that mold perfectly,” iAnthus CEO Richard Proud said in a statement.

“Cheetah’s innovative approach to the vape market mirrors the agility, precision and speed with which we’re building iAnthus.

“This acquisition gives us the momentum to win with consumers, expand into new markets and bring top industry talent into our organization.”

Under terms of the deal, Cheetah co-founder and CEO Michael Piermont will join iAnthus as chief commercial officer, according to the release.

Marijuana MSO iAnthus acquires vape brand Cheetah for $1.5 million