Vireo Growth Expands into Organic Agribusiness with Bridgewell Acquisition

MINNEAPOLIS – Vireo Growth Inc., which operates cultivation, processing, and retail dispensaries across ten states, signed a letter of intent to purchase Bridgewell Agribusiness LLC from BWAB Holdings LLC. The base purchase price is set at $40 million. After adjustments, including the assumption of roughly $30 million in debt, the estimated net purchase price comes to about $10.26 million. Vireo will issue an unsecured subordinated convertible note for the amount, set to convert into approximately 16.55 million subordinate voting shares after two years, at a deemed price around $0.62 per share.

The transaction could close any time following five business days from the date of announcement, subject to the negotiation and execution of definitive transaction agreements and receipt of all required regulatory approvals, including, if applicable, the approval of the Canadian Securities Exchange.

Bridgewell is a privately held supplier of organic and non-GMO food and agricultural products to manufacturers and processors. The company sources, procures, and supplies organic and non-GMO agricultural commodities and food ingredients, acting as an intermediary between agricultural producers and food manufacturers, providing customers with a reliable supply of raw materials and ingredients that meet applicable Safe Quality Food (SQF) certification and regulatory standards. Bridgewell operates out of a 50,000-square-foot facility with the capacity to coordinate domestic and international shipments at multiple scales.

The Bridgewell announcement comes as Vireo has been executing one of the most aggressive acquisition runs in the Cannabis industry. From 2024 to 2025, the Minneapolis-based MSO boosted revenue by more than 250% year-over-year, from $100 million to $268.7 million, growth that came at a time when many Cannabis companies are struggling to grow at all.

Recent deals include the acquisition of Eaze [once valued at nearly $700 million] for $47 million in an all-stock deal, adding 65 retail locations and a delivery infrastructure that has completed more than 12 million orders. The company also completed the acquisition of Hawthorne Gardening Company from Scotts Miracle-Gro, with CEO John Mazarakis describing it as a move that “creates a procurement platform to optimize supply chain management and drive cost efficiency across our portfolio.”

Bridgewell fits squarely within that logic. A supply-chain-focused agribusiness with established manufacturer relationships, food safety certifications, and a global sourcing network offers Vireo access to raw ingredient flows that could theoretically serve both its Cannabis operations, including edibles and consumer packaged goods, and broader food manufacturing customers.

For Vireo, the Bridgewell deal represents a calculated extension of its platform beyond Cannabis retail, one that reflects a pragmatic approach to building resilience. While the primary business stays rooted in regulated Cannabis markets, adding capabilities in organic agriculture introduces a layer of operational breadth. Either way, this acquisition signals that Vireo Growth is not limiting its definition of what a Cannabis company can own.

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