Harvest Health & Recreation to acquire CannaPharmacy for $149m.

Harvest Health & Recreation is acquiring CannaPharmacy for $149m. CannaPharmacy has operations in four contiguous northeastern US 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. "We’re seeing significant M&A activity across our industry, but the most important factors are the price one pays for an acquisition, strength of the assets relative to the market size and synergies between the companies. Harvest was already fully funded to build out our entire footprint, inclusive of the significant assets that come with the Verano acquisition." Steve White, CEO of Harvest. “All of our efforts back up our three core objectives; to expand and deepen our retail and wholesale footprint, build national brands and continue our path to profitable growth, and this CannaPharmacy deal is no different,” Jason Vedadi, Executive Chairman of Harvest.