CannabisNews420.com – Cannabis/Marijuana Industry News
Multistate marijuana operator Harvest Health & Recreation announced on Friday it closed on its previously announced $25.5 million purchase of Pennsylvania medical cannabis company Franklin Labs.
The closing comes a day after Harvest revealed that it would no longer buy Chicago-based Verano Holdings, which was for a time was one of the biggest merger and acquisitions announced in the U.S. cannabis industry.
For the most recent deal, Phoenix-based Harvest is paying $15.5 million in cash and a $10 million promissory note for Franklin Labs, a subsidiary of Pennsylvania-based CannaPharmacy.
Cannabis firm Harvest Health seals $25 million Franklin Labs purchase