Harvest expands medical marijuana market reach by buying Arizona rival

Just Released! Get realistic market forecasts, state-by-state insights and benchmarks with the new 2024 MJBiz Factbook member program, now with quarterly updates. Make informed decisions.

Arizona’s largest medical cannabis company, Harvest Health & Recreation, grew its footprint in the state by acquiring competitor Arizona Natural Selections.

Under terms of the deal, Harvest received:
  • Vertical licenses for three operating MMJ dispensaries and a fourth location to be opened.
  • A 55,000-square-foot grow facility.
  • A 322-acre site containing a 70,000-square-foot greenhouse and 25 acres that are zoned for marijuana cultivation.

Harvest, a Phoenix-based multistate cannabis operator, didn’t disclose the purchase price, saying only that it acquired Arizona Natural Selections’ licenses for a “nonmaterial” amount of stock.

With the acquisitions, Harvest operates 14 of the roughly 120 medical marijuana dispensaries in the state, according to the Arizona Republic.

For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.