Harvest Health's $850 million deal to buy fellow pot company Verano Holdings brings Harvest one step closer to having the largest cannabis retail footprint in the United States, CEO Steve White says.
div > div.group > p:first-child"> Earlier this week, cannabis product retailer Harvest Health and Recreation announced it would buy competitor Verano Holdings for $850 million in an all-stock deal, marking the largest U.S. cannabis deal to date. The combined company will be one of the country's largest multi-state operators, presiding over as many as 200 facilities in 16 states.
Harvest currently operates in Arizona, California, Florida, Maryland, Ohio and Pennsylvania, and was already planning to open new locations in Massachusetts, Michigan and North Dakota. The Verano acquisition adds Illinois and Nevada to that list, as well as plans for new locations in Puerto Rico, Oklahoma and New Jersey.
That also speaks to Verano's focus on profitability, which White flagged as another reason the companies would fit well together.
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