- Harvest Health & Recreation (CSE:HARV) has announced its acquisition of Arizona Natural Selections
- With the acquisition, Harvest now owns 14 medical dispensaries, four cultivation facilities and three processing facilities in Arizona
- The acquisition was made with a non-material undisclosed amount of stock
- Shares in Harvest Health & Recreation are currently up 0.62 per cent to C$3.27, with a market cap of C$307.92 million
Multi-state cannabis operator, Harvest Health & Recreation (CSE:HARV), has announced the acquisition of Arizona Natural Selections.
With the acquisition, Harvest has grown its presence in its home state of Arizona to 14 medical dispensaries, four cultivation facilities and three processing facilities.
The four licenses acquired as part of the deal include three existing retail locations and a fourth due to be opened soon, all of which operate under the Arizona Natural Selections brand.
“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 Arizona Natural Selections CEO, Kurt Merschman.
“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.”
The acquisition will also provide Harvest with two new cultivation facilities in full operation.
One in Phoenix, with a 55,000 sq ft capacity, will also operate as a processing facility.
The second, in Willcox, covers 322 acres, 25 of which are zoned for cannabis cultivation. The facility also features 70,000 sq ft of greenhouse.
“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.”
The acquisition was completed with a non-material undisclosed amount of stock.
Shares in Harvest Health & Recreation are currently up 0.62 per cent to C$3.27, with a market cap of C$307.92 million.