How to Buy or Sell a Cannabis License in Minnesota’s Adult-Use Market: M&A Guide (2025)
By Jason Tarasek, Charles Alovisetti, Jack Crain
Jul 18, 2025
Minnesota’s adult-use cannabis program is officially underway, and the state’s M&A activity is heating up. This blog outlines key licensing trends, including microbusiness and mezzobusiness activity, valuation ranges, and social equity program requirements. It also breaks down the Minnesota Office of Cannabis Management’s (OCM) new guidance on ownership transfers. Whether you’re looking to buy, sell, or invest in a cannabis license, this resource highlights what you need to know to structure a compliant deal in the North Star State.
