Harvest Health and Recreation, a vertically integrated cannabis company, announced Tuesday it will acquire CannaPharmacy which owns or operates (through management companies) cannabis licenses in New Jersey, Pennsylvania, Delaware, and Maryland and holds a minority interest in a pending licensee in Colombia.
For New Jersey the acquisition includes one of six operational – and 12 awarded by the state – fully vertical licenses, permitting cultivation, retail sales and manufacturing.
CannaPharmacy has operations in four contiguous northeastern U.S. states. The licenses and assets of CannaPharmacy will add to Harvest’s extensive national footprint, already the country’s largest and deepest in terms of licenses and facilities permitted across 17 states and Puerto Rico.
One of those stores is located in Woodbridge, a dispensary flagship store open and operational on a major highway since 2013. This unit has served more patients and completed more cannabis transactions since inception than any other store, according to the New Jersey Department of Health annual report in April 2018.