A cannabis company with a dispensary in Lynn has taken over a former Leominster dispensary of the now-defunct Rev Clinics.
Pluto Cannabis, a business led by Ansh Bhammar and Umang Patel, has taken over operations of the site at 130 Pioneer Dr. The company has retained existing employees, Bhammar said.
Once one of the most prominent cannabis firms in Central Massachusetts and the fourth-fastest company in the nation in 2021, Rev Clinics suffered a financial collapse and was put into receivership.
The existing employees deserve credit for maintaining the store’s customer base during receivership, Bhammar said. Pluto’s purchase of the site is being finalized, and the store will be rebranded in the coming weeks.
“It was an unfortunate situation, but we’re glad that we could take over. It’s a great city to be in. The store is great,” he said. “A lot of customers really enjoy coming to that location because of the staff.”
Pluto opened in Lynn in December 2023.
The Leominster store will operate as an outlet location, as it did under Rev Clinics, with more affordable prices for bulk purchases, Bhammar said. The store’s product selection had been limited because of the receivership, but the company is working to expand the menu.
Bhammar declined to disclose the purchase price of the location.
The City’s Planning Board recommended approval of a new special permit for the business Thursday, with the item set to be heard by the City Council on Monday.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the real estate and banking & finance industries.
