High Times is really, really getting into the cannabis industry!
As we move into a new decade, the legendary cannabis media giant is looking to expand its footprint. Part of that expansion involves the brand getting more hands-on when it comes to the plant.
According to Yahoo! News:
Hightimes Holding Corp., owner of the eponymous magazine, entered a purchase agreement to buy 13 active and planned retail dispensaries from Harvest Health and Recreation, Inc. for $80 million in cash and stock, giving the company an almost instant foothold in California’s cannabis market.
Hightimes Holding Corp executive chairman Adam Levine spoke about the new deal:
“We’ve long supported Harvest and the other cannabis-retail-trailblazers as they pushed forward despite changing legislation, insurmountable licensing fees, political stigma and, frankly, through a process that was designed to be difficult,” said Adam Levin, Hightimes Holding Corp.’s Executive Chairman. “We have enormous respect for the Harvest brand and look forward to ushering in the next generation of retail experience with Harvest as a significant shareholder in our company. We look forward to finding a myriad of ways to work with Steve and the team at Harvest.”
Last year, High Times introduced a new ownership group that included Damien Marley and others as well as plans on taking Hightimes public.
Founded in Arizona by Steve White in 2013, Harvest Health and Recreation dispensaries grew over time. As of today, the brand had the rights to operate in 9 other states.