Harvest Health & Recreation Acquires Urban Greenhouse, Expands In Arizona

Harvest Health & Recreation, Inc. HARV HRVSF said Wednesday it will acquire Phoenix operator Urban Greenhouse.

The company will expand its footprint across Arizona by taking Urban Greenhouse operations, whose dispensary will operate under Harvest’s House of Cannabis stores.

“As we grow to be the most valuable cannabis company, it is imperative that we continue efforts in key cannabis markets including our home state of Arizona to bring the community greater economic development and provide consumers easier access to high-quality retail experiences and products,” said Harvest Executive Chairman Jason Vedadi.

Benzinga's Cannabis Capital Conference heads to Detroit on Aug. 15 -- Click here to learn more!

“Urban Greenhouse has done an exceptional job of becoming a household name in Phoenix and with its excellent real estate position and community reputation, we believe Harvest’s expert operational team will only accelerate the growth for the already successful dispensary.”

In addition to its 13 dispensaries and cultivation and manufacturing facilities in Arizona, the company also recently obtained the right to run a dispensary in Casa Grande.

Harvest’s stock traded at $5.13 per share on Wednesday morning.

Never miss a news story in the cannabis world. Click here to check out Benzinga Cannabis for more.