(This story has been updated with a Deep Roots Harvest comment about the purchase price.)
Deep Roots Harvest has acquired fellow Nevada marijuana operator The Source in a deal that includes a portfolio of retail, distribution and cultivation assets in the state.
The acquisition gives Mesquite-based Deep Roots Harvest four additional retail outlets in Henderson, Las Vegas, North Las Vegas and Pahrump.
A Deep Roots Harvest spokesperson told MJBizDaily that the company is not revealing the purchase price at this time.
“With the completion of this deal, we have an opportunity to lead the next phase for the cannabis industry in Nevada,” said Jon Marshall, Deep Roots Harvest’s chief operating officer.
“We look forward to working with our new colleagues at The Source to continue to bring Nevada consumers the quality, service and innovation they have come to expect from two of the state’s biggest cannabis operators.”
The stores that Deep Roots acquired will continue to operate under The Source brand.
Cultivation, production and distribution operations will be consolidated and used across both retail brands.
“It is incredible to conclude this deal and let the teams get to work serving the needs of Nevada consumers,” said Jacques Santucci of Maine-headquartered Opus Consulting, which a Nevada district court appointed in mid-2023 to serve as a receiver for The Source.
As receiver, Opus took control of The Source’s assets and operated the business with the assistance of the existing staff as it marketed the assets for sale in late 2023.
