Harvest Health & Recreation

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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Cannabis giant Harvest Health plans $87.5 million purchase

Harvest Health & Recreation, an Arizona-based multistate cannabis company, said Monday it is negotiating to pay $87.5 million in stock and debt assumption for Interurban Capital Group in Seattle. Interurban is the owner and operator of Seattle-based Have a Heart, which has a total of 11 dispensaries in California, Washington state and Iowa. It also […]

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Harvest agrees to halt quest for two medical cannabis licenses in Pennsylvania

Harvest Health & Recreation, an Arizona-based multistate cannabis company, reached an agreement with Pennsylvania regulators to drop two permits for affiliated medical marijuana companies it was pursuing in the state. Harvest no longer will pursue permits for Harvest of Northwest PA and Harvest of North Central PA. The company also will not operate the two facilities […]

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Harvest Health & Recreation reports improved marijuana revenue, net quarter loss

Arizona-based Harvest Health & Recreation, a major multistate operator, reported revenue of $26.6 million for the second quarter, a 153% jump from the $10.5 million booked in the same period last year. Net loss for the second quarter, ending June 30, totaled $20.6 million compared with net income of $2.83 million for the same period […]

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What medical cannabis firms might learn from Harvest’s compliance conundrums

Harvest Health & Recreation is in high-stakes clashes with medical marijuana regulators in Pennsylvania and Ohio, and the disputes could potentially offer other MMJ firms cautionary lessons around the necessity to maintain extremely pristine regulatory compliance in state-legal markets. At stake for Harvest are more than a dozen dispensary, processing and cultivation licenses in the […]

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Harvest working to resolve medical marijuana ownership dispute in Ohio

Harvest Health & Recreation is working with Ohio regulators to resolve ownership questions that put three cannabis dispensaries in limbo and the Arizona company’s cultivation facility in the state under scrutiny. The issues are in addition to those that Harvest is working on in Pennsylvania, where regulators revoked a license to a growing operation Harvest […]

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Harvest Health secures $225 million loan to boost marijuana expansion

Harvest Health & Recreation, a Phoenix-based multistate cannabis operator, secured up to a $225 million loan to help accelerate growth. The loan, to be structured in three $75 million tranches, is backed by Miami-based Torian Capital Partners. Harvest said the proceeds will be used for:  Working capital.  Strategic acquisitions.  General corporate purposes. The loan will […]

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Harvest wants to regain Pennsylvania medical marijuana license

Arizona-based Harvest Health & Recreation said it will challenge the decision by Pennsylvania regulators to revoke the license of a medical cannabis cultivation operation it recently acquired. Regulators refused to renew the permit of Agrimed Industries one month after a surprise state inspection found numerous violations, including nonfunctioning security cameras and the lack of records […]

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