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Magazine’s publisher High Times Holding Corp. has entered into an agreement to acquire cannabis delivery service Mountain High Recreation.
The deal sets High Times up with its first retail channel.
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“This year our team is expanding to include two important sets of consumer experts — successful local cannabis operators who possess a level of customer intimacy you won’t find in large multi-store operations, paired with accomplished retail professionals who have led and built some of the most successful multi-billion dollar brands in retail,” High Times CFO Peter Horvath said in a prepared statement. “Together we are launching High Times delivery in California where we will bring the best assortment of quality cannabis products to your doorstep safe, and fast, with exceptional value.”
High Times said this was a long-time plan, but cited the COVID-19 pandemic as a reason to execute it now considering how social distancing has changed consumers buying habits.
Henderson disclosed the company is also in the process of transferring ownership of five operating stores and seven new stores across the California market.
High Times “wouldn’t think of servicing that audience without a superb delivery solution in the equation,” he added.
The closing is expected to materialize before October 2020.
Courtesy photo
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.