Harvest Health & Recreation

Are marijuana megadeals on the rise?

The May 10 announcement that Florida-based Trulieve would acquire Arizona-headquartered Harvest Health & Recreation for $2.1 billion could indicate that big marijuana mergers are making a return.

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Arkansas medical marijuana regulators sued over license sale

An Arkansas mayor and several other entities are suing state medical marijuana regulators and an MMJ company in connection with the sale and transfer of a license in November 2020. The suit, filed this week in Jackson County Circuit Court, alleges fraud, conspiracy and breach of contract related to the sale of Natural State Wellness […]

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Arizona’s new recreational cannabis firms see strong sales, possible supply issues on horizon

Vertically integrated cannabis companies in Arizona’s fledgling recreational market are reporting long customer lines and robust sales after a lightning-quick market launch less than three months after voters approved adult-use legalization. Dispensary operators, which were given first crack at recreational licenses, report that initial adult-use sales were two to three times the value of their […]

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Harvest closes $34.6M Florida sale-leaseback deal with marijuana REIT

Multistate marijuana operator Harvest Health & Recreation on Monday closed a sale-leaseback transaction, selling a cultivation and processing facility in Alachua, Florida, to Innovative Industrial Properties for $23.8 million. Harvest anticipates approximately $34.6 million in total proceeds from the deal, including $10.8 million in unspecified improvements to be completed by Harvest and reimbursed by California-based […]

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Harvest Health sells Arkansas medical marijuana operation for $25 million

Multistate marijuana operator Harvest Health & Recreation said it has completed the sale of its Arkansas medical marijuana operations for $25 million, a move to allow the company to focus on markets such as Arizona. Arizona-based Harvest Health said it netted $12.9 million in cash from the sale of Natural State Wellness, a vertical operation. […]

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Marijuana multistate operators set to capitalize on new markets, but small firms face hurdles

Get insights on cannabis investing and what the post-election investment climate looks like during the Investor Intelligence Conference portion of MJBizCon’s Passholder Days on Thursday, Nov. 12. (The graphic above has been corrected to reflect that Acreage Holdings has a cultivation/processing operation in Pennsylvania but no retail locations and that Harvest Health & Recreation has […]

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Private multistate marijuana giants Verano and AltMed to merge, creating 14-state operator

On Thursday, Nov. 12, get insights on cannabis investing and what the post-election investment climate looks like during MJBizCon’s Passholder Days. Marijuana multistate operator Verano Holdings on Wednesday announced a definitive agreement to acquire Florida-based Alternative Medical Enterprises (AltMed) for an undisclosed price, creating one of the largest cannabis companies in the U.S. with 44 […]

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Marijuana MSO Harvest Health raises nearly $35 million in stock offering

Marijuana multistate operator Harvest Health & Recreation raised $34.5 million (46 million Canadian dollars) through a public offering of subordinate stock, the company said Wednesday. The Arizona-based marijuana company said in a previous news release that it will use the proceeds for working capital and general corporate purposes. The offering was increased from around $23 […]

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Marijuana legalization proponents outraising opponents 36-to-1 in 2020

Financial support for marijuana legalization, both medical and recreational, has grown significantly in 2020 compared to 2016. Proponents of state ballot measures have outraised opponents this election season by almost 36-to-1, a massive increase from four years ago when advocates outstripped the opposition by only 4-to-1. Supporters of the legalization measures in Arizona, Mississippi, Montana, […]

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Marijuana MSO execs pinpoint state markets they’re least bullish on – and those they’re eyeing for the future

This is the second installment of a two-part series in which top executives from multistate operators discuss the state-legal marijuana markets they like the most and the least. The first installment can be viewed here. Executives’ comments have been edited for length and clarity. (Click on the orange arrows to advance the slideshow.)

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