Harvest Health & Recreation

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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High Times revises deal to buy CA marijuana retail stores from Harvest

High Times Holding Corp.’s agreement to buy planned and operating California dispensaries from multistate operator Harvest Health & Recreation has been cut to 10 from the 13 announced in late April. The Los Angeles-based owner of High Times magazine announced the amended nearly all-stock agreement on Friday. Two properties cut from the deal are operating […]

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Week in Review: Recreational marijuana sales tumble, cannabis stores open during pandemic, Harvest-Verano deal dead & more

Only a few days after adult-use marijuana sales soared amid the coronavirus scare, they took a nosedive. MJBizDaily takeaway: The roller-coaster ride in marijuana sales was to be expected. Initially, consumers, panicked by the pandemic, stockpiled products. The sudden drop might mark a natural decline after consumers stocked up before sheltering in place, or it could be […]

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Cannabis firm Harvest Health seals $25 million Franklin Labs purchase

Multistate marijuana operator Harvest Health & Recreation announced on Friday it closed on its previously announced $25.5 million purchase of Pennsylvania medical cannabis company Franklin Labs. The closing comes a day after Harvest revealed that it would no longer buy Chicago-based Verano Holdings, which was for a time was one of the biggest merger and acquisitions announced […]

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Harvest Health, Verano end mammoth marijuana merger

What was one of the largest acquisitions ever announced in the marijuana industry – a deal valued at $850 million when Phoenix-based multistate marijuana operator Harvest Health & Recreation said a year ago it would buy Chicago’s Verano Holdings – has been mutually terminated, the two companies said Thursday. The coronavirus and other financial and regulatory […]

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Cannabis giant Harvest Health seeks to terminate acquisition

Harvest Health & Recreation, an Arizona-based multistate marijuana operator, on Wednesday said it has filed a federal lawsuit against Falcon International seeking to terminate its merger agreement with the California-based company. As part of the suit, Harvest also is seeking a return of $50 million it paid to Falcon under the merger agreement. Harvest’s complaint, […]

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