U.S. marijuana deal worth $850 million announcedPosted by On

In a press release today, Harvest Health & Recreation, Inc. – a vertically integrated multistate cannabis dispensary operator, announced that it would be acquiring privately held Verano Holdings for $850 million in an all-stock deal.

The deal surpasses the previous record for an U.S. acquisition in the cannabis industry – when in October 2018, MedMen Enterprises acquired multistate medical marijuana company PharmaCann in an all-stock deal valued at $682 million.

The deal is expected to be completed in the first half of this year, giving Harvest one of the largest footprints among multistate cannabis operators with 30 operating dispensaries, eight cultivation facilities, and seven manufacturing facilities upon completion.

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