ACE Venture of NY LLC acquired a 51% controlling stake in Vireo Health New York, the company confirmed on 5 May 2026.
The transaction transfers majority control of one of the state’s vertically integrated medical cannabis operators from Vireo Growth Inc. to the New York-based investment vehicle and is being unveiled alongside the launch of a new consumer-facing brand, Boukét.
The deal positions ACE Venture as the controlling partner of a fully licensed cultivation, manufacturing and retail footprint in New York, with Vireo Growth retaining a 49% interest. Financial terms were not disclosed.
Boukét will sit on top of that infrastructure as a cannabis lifestyle brand aimed at New York’s adult-use market, marrying Vireo’s production assets with ACE Venture’s consumer and cultural positioning.
The closing follows a wider repositioning by Vireo Growth, which has been reshaping its US footprint to concentrate capital on higher-growth markets. The company struck an all-stock deal to acquire Florida operator Fluent on 30 April, in a debt-for-stock transaction, having earlier added Eaze and PharmaCann dispensaries in Colorado in late 2025. The New York handover to ACE Venture is consistent with this strategy of monetising a controlling interest in one state while doubling down on operating scale elsewhere.
For New York, the transaction is a notable signal. The state’s adult-use rollout has struggled to generate consistent returns for licensed operators, and the arrival of a well-capitalised, locally-led majority owner backing a new lifestyle-focused brand reflects an appetite to consolidate around operators with both compliance pedigree and consumer brand chops. According to reports, ACE Venture intends to use Boukét to differentiate Vireo’s New York retail and product lines as competition from new conditional adult-use licensees intensifies.
Also in M&A this week: Wholesale distributor Nabis confirmed on 4 May that it is acquiring Hudson Distribution Services’ New Jersey cannabis distribution licence, marking its entry into the state’s wholesale market. Separately, Vireo Growth’s previously announced acquisition of Florida MSO Fluent continues to progress, extending the operator’s buying spree into the southeast.
Read the latest cannabis M&A news on Business of Cannabis.
