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Business BYTES: Story Cannabis acquires Nature’s Medicine in Arizona

photo of Story Cannabis executives
From left are Jason Vedadi, CEO, and COO Joe Sai of Story Cannabis Company. (File Photos/
Story Cannabis continues expansion of retail, cultivation footprint
Staff Reports | Digital Free Press

Story Cannabis Company, an emerging player in the fast-growing cannabis industry, has acquired four vertically integrated cannabis licenses, which are all branded under the name Nature’s Medicines found in Arizona.

The company acquired the assets from Devi Holdings; however, financial terms were not disclosed to the Digital Free Press.

The Arizona dispensary locations are in Phoenix, Tolleson, and one in Glendale. With the recent additions, the company’s portfolio in Arizona now includes operations of 11 retail locations and two cultivation facilities.

The acquisition effort was led by Story Cannabis executives and cannabis entrepreneurs, CEO Jason Vedadi, and COO Joe Sai.

Mr. Vedadi is the founder of Modern Flower, which merged with Harvest Health and Recreation in 2017. He is the former executive chairman of harvest health and recreation and former CEO of Oasis Cannabis.

Mr. Sai is the former COO of Trulieve, and the former Chief of Staff and COO of Harvest Health and Recreation.

“Our core strategy is to build our portfolio quickly and efficiently across multiple states in order to successfully serve consumers while staying true to cannabis culture,” Mr. Vedadi said in a prepared statement.

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