Harvest Health sets cannabis industry standard with $850 million acquisition of multistate operator Verano
Arizona-based Harvest Health & Recreation reached a binding agreement to acquire Verano Holdings of Chicago for $850 million, a deal that’s considered to be the largest acquisition inked in the U.S. cannabis industry to date.
The deal surpasses the previously largest U.S. acquisition in the cannabis industry – MedMen’s $682 million all-stock purchase of PharmaCann in October.
Upon closing, the all-stock deal with Verano will give Harvest one of the largest footprints among multistate cannabis operators with 123 dispensaries in 16 states.