Harvest Health & Recreation Inc. Announced Acquisition of Arizona Natural Selections
Harvest Health & Recreation Inc. (CSE: HARV, OTCQX: HRVSF) is a vertically integrated cannabis company with one of the largest and deepest footprints in the U.S. The company announced the acquisition of Arizona Natural Selections, including the company’s four vertical medical licenses in Arizona for a non-material undisclosed amount of stock. With this acquisition Harvest owns and operates 14 medical dispensaries, four cultivation facilities, and three processing facilities in its home state of Arizona, a total of 15 vertical licenses. On a pro forma basis, including pending acquisitions, Harvest has a total of 22 vertical licenses in Arizona.
Headquartered in Tempe, Arizona, Harvest Health & Recreation Inc. is a multi-state cannabis operator (MSO) and vertically integrated cannabis company. Subject to completion of announced acquisitions, Harvest will have one of the largest footprints in the U.S., with rights to operate more than 210 facilities, of which approximately 130 are retail locations, and more than 1,700 employees across 18 states and territories. Since 2011, the company has been committed to expanding its Harvest House of Cannabis retail and wholesale presence throughout the U.S., acquiring, creating and growing leading brands for patients and consumers nationally and continuing on a path of profitable growth. Harvest’s mission is to improve lives through the goodness of cannabis and is focused on its vision to become the most valuable cannabis company in the world.
The four licenses acquired through the agreement include retail locations: Green Desert Patient Center of Peoria, Inc., Green Sky Patient Center of Scottsdale North, Inc., The Giving Tree Wellness Center of Mesa, Inc. and a fourth location to be opened, each of which currently conducts business under the retail brand name Arizona Natural Selections.
The acquisition will provide Harvest with two operational cultivation facilities: a 55,000 sq. ft. indoor cultivation and production facility in Phoenix and a 322-acre site of which 25 acres are zoned for cannabis with 70,000 square feet of greenhouse in Willcox. The acquisition includes the Darwin line of precision-dosed cannabis products.
“We are excited to further deepen our operations in our home state of Arizona expanding our cultivation, processing, and retail operations,” said Harvest CEO Steve White. “We will look to further the existing reputation and operational excellence Arizona Natural Selections has established across the state and are eager to welcome new members into the Harvest family.”
“We’re extremely pleased to have found a partner like Harvest, whose values align with ours and whose capabilities will enhance our ability to deliver high-quality products to our patients,” said Kurt Merschman , CEO of Arizona Natural Selections. “With Harvest’s exceptional reputation, commitment to Arizona and experienced operations team, we have no doubt we’ll be able to provide an even greater level of care and service to our patients.”
Leave a Reply