Published On : 2019-07-25
Urban Greenhouse will be operating under Harvest’s House of Cannabis outlets after the acquisition.
Harvest Health and Recreation, a US multistate cannabis operator, has announced the purchase of Urban Greenhouse, an American marijuana dispensary. With the addition of Urban Greenhouse medical cannabis cultivation facility and dispensary operations, Harvest will strengthen its market penetration and expansion across the US state of Arizona, where both the companies are headquartered. As per the deal, Urban Greenhouse’s dispensary will be operating under Harvest’s House of Cannabis outlets. Harvest’s pending acquisitions will be adding six more manufacturing and cultivation facilities and dispensaries in Arizona. Currently, the company is operating 13 facilities and dispensaries in the state.
“As our company grows to become the most valuable cannabis company, it’s imperative that we continue with our efforts in important cannabis markets, which include Arizona – our home state, for providing customers with easier access to high-quality products and retail experiences and bringing greater economic development to the community. Our company is dedicated to drive consumer education programs, future store developments, and new job prospects for local communities and has a deep appreciation for its home market,” said Jason Vedadi, Executive Chairman of Harvest Health and Recreation.
Continuous acquisition of cannabis operators to help Harvest expand in Arizona
“Urban Greenhouse has done an excellent job of becoming a household name in the city of Phoenix, and with its exceptional community reputation and real estate position, we believe our expert operational team will only be accelerating the growth for the dispensary, which is already successful,” said Vedadi.
According to latest news updates, Harvest signed a deal with Devine Hunter to acquire six additional licenses in Arizona, planned to further expand into the Utah medical cannabis market, and acquired the only licensed cannabis dispensary in Casa Grande, Arizona with the purchase of Leaf Life Dispensary. Harvest’s acquisition spree is expected to help the company to cement a strong position in the Arizona market and prepare for expansion in other US markets too.
“In the US, Arizona is the third largest market for medicinal cannabis, yet several people in our communities still lack sufficient access to dispensaries offering high-quality medicinal products and with expert staff needed for improving treatment outcomes and patient education,” said Vedadi at the time when Harvest’s acquisition of Leaf Life Dispensary was announced.
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