Windy City Cannabis, which last month sold off its dispensaries in Worth and Justice to Massachusetts-based Curaleaf as part of its $830 million acquisition of Chicago-based Grassroots last summer, is selling its remaining south suburban locations in Posen and Homewood to Parallel, one of the largest privately held multistate cannabis operators in the United States.

Parallel announced last week that it has agreed to acquire Windy City for $100 million, with $60 million in cash and $40 million in Parallel stock. The sale is subject to regulatory approval.

Windy City also operates a shop in Litchfield and planned to open three new dispensaries this year in Highwood, Carpentersville and Macomb.

Windy City opened its south suburban locations after medical cannabis shops were allowed to open in Illinois in 2016. It began offering recreational sales last year when Illinois legalized those purchases.

Parallel operates cannabis shops in Florida, Massachusetts, Texas, Pennsylvania and Nevada.

“The acquisition of Windy City enables Parallel’s entry into Illinois, one of the best performing cannabis markets in the U.S. to date,” said William “Beau” Wrigley Jr., chairman and chief executive officer of Parallel. “This transaction gives Parallel the chance to build upon Windy City’s neighborhood retail brand presence to bring customers well-being through cannabis products. We also intend to continue to have a positive impact in Windy City’s local communities by creating jobs and investing in employees.

Including Windy City’s additional site locations opening later this month, Parallel is expected to have one of the largest retail footprints in Illinois among U.S. cannabis operators,” Wrigley said.

New owner for Southeast Buyers Directory

When Lithotype Printing in Lansing closed its doors and ceased operations in October, the SoutheastBuyers’ Directory was purchased by Sue Baxter, president of Baxter Design & Advertising, in Valparaiso, Indiana.

The directory services 25,000 residents and businesses of the Chicago Hegewisch, East Side and South Chicago neighborhoods, and Whiting, Indiana.

It was established in 1955 as the South Chicago, East Side and Hegewisch local phone directory. It was purchased by Calumet Publishing, who owned Litho, in 1972.

Due to changes in the telephone industry, the Directory became a Buyer’s Directory in 2016, helping local residents find local service providers like plumbers, electricians, heating and cooling repairs, auto repair, pizza, carry-outs, and restaurants. Baxter’s acquisition included the Directory only, and terms of the sale were not disclosed.

Earlier in 2020, Baxter has looked into purchasing the directory after learning the printing firm was looking for a buyer. When she heard about Litho’s closure in October, her interest was reignited. Baxter acquired the directory and took the reins on November 19, a month after the printer closed.

“That’s a really sad state of affairs to have a popular and beloved Directory close like that,” Baxter said. “So, I really looked at the numbers again, and I thought I can make this thing work and continue to serve the local communities.”

Baxter said there has been a lot of positive feedback and excitement about the Directory making a comeback.

The first new issue is coming out this month and has received positive feedback from several repeat advertisers. “All of the cover page advertisers have been taken,” Baxter said.

“What’s amazing to me is that everyone knows the name and has heard of the Directory, making it an easy sell,” Baxter said. “Some people might call me crazy for buying a publication during the pandemic situation, but the world doesn’t stop. Things still go on and people still want their Directory.”

Bob Bong is a freelance columnist. He can be reached at bobbong@hotmail.com.