AYR Wellness is a cannabis retail and consumer-products operator whose corporate structure changed materially in 2025 and 2026. The business it built was a vertically integrated multi-state operator spanning cultivation, manufacturing, wholesale brands and dispensaries. Its core operating assets are now moving to a lender-owned successor that intends to keep trading under the AYR Wellness name, while the Canadian parent works through a court-supervised wind-down.
Where it operates
AYR has operated in Florida, Massachusetts, Pennsylvania, Arizona, Nevada and New Jersey, with its corporate address in Miami, Florida. Because each state requires local cultivation, manufacturing and licences, the range on a menu differs from state to state.
House brands
AYR groups its packaged goods under separate brand names rather than putting the corporate name on every package. Its published house brands are Kynd, Haze, Laterdays and Levia. Local and legacy brands also remain on individual state menus, which means AYR is frequently the operator behind a store or a product rather than the name on the front panel.
Company
Under a Master Purchase Agreement dated 14 November 2025, Arboretum — an entity established by AYR's senior secured noteholders — was named the designated purchaser of the company's operating assets. On 2 June 2026 AYR confirmed that its Florida, New Jersey and Nevada operations had closed and transferred to Arboretum Florida LLC, Arboretum New Jersey LLC and Arboretum Nevada LLC, with all state regulatory approvals obtained before closing.
What happens next
Arboretum stated that it intends to operate under the trade name Ayr Wellness. The parent company continues proceedings under Canada's Companies' Creditors Arrangement Act, and the transfer of its remaining assets into Arboretum is still expected.
On June 2, 2026, AYR said its Florida, New Jersey and Nevada businesses had moved into named Arboretum subsidiaries after state approvals, while the former Canadian parent continued its court-supervised wind-down. Arboretum's intention to use the AYR Wellness trade name explains why customers may see continuity at stores even though ownership changed at the corporate level.
Product details
Customers should use AYR's market selector to open the correct state-specific store site. Hours, medical or adult-use eligibility, loyalty programs, delivery options and inventory are governed locally. Menus can combine AYR house brands with products from unrelated licensed companies. The physical package identifies the manufacturer and batch rather than relying on the retail banner alone.
Brands and operating names
Kynd, Haze, Later Days and Levia are product brands within the published portfolio. AYR is also used as a store name and as the intended trade name of the successor operator. Older documents may use local licensee or legacy retail names, which is normal in a business assembled through state-by-state acquisitions. Regulator license directories resolve the legal operator identity when that distinction matters.
Recent activity
The June 2, 2026 company release records completed transfers rather than a proposal, while the November 2025 agreement supplies the transaction framework. AYR said further transfers were still expected at that point. Any later outcome for remaining assets should be checked against court and regulator records rather than inferred from the completed three-state transaction.