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Trulieve To Buy Harvest; Planet 13 to Arrive In Florida As Part of the Deal

Updated: Sep 15, 2021

In May, Florida-based dispensary Trulieve announced they will be buying Harvest Health & Recreation, a dispensary that can be found in nearly every corner of Florida. Now, after the Supreme Court of British Columbia sent Harvest a final court order approving the $2.1 billion deal in which Trulieve obtains all of Harvest's shares, the buyout seem imminent. This deal highlights the money and power Trulieve essentially has considering the numbers in revenue they've been producing the last few years and the continuance of store-openings in Florida recently. This isn't to say that Harvest will completely disappear, but Trulieve likely has all control over the company, such as name and locations, so it shouldn't be surprising in the coming months/years to see less Harvest dispensaries and more Trulieve dispensaries. There is also the possibility of more locations of both dispensaries opening up near you since Trulieve has the control and the money to make Harvest a successful, profit-building secondary company.

This blockbuster deal between Trulieve and Harvest affects other deals happening in the medical marijuana industry, too. Planet 13 is a Las Vegas-based cannabis company who recently bought a subsidiary of Harvest for $55 million and is awaiting the successful close of Trulieve's acquisition of Harvest to grow and operate in Florida. A subsidiary is a company that belongs to a "holding" company, or what is known as the "parent" company. An example of a subsidiary is like how Sprite is owned by Coca Cola, where Coke is the big, parent company and Sprite is a Coke brand generating revenue and profits. Basically, Harvest is Coca Cola and sold Sprite for $55 million to Planet 13. And Trulieve buying Harvest is like Nike buying Coca Cola, and Planet 13 has to wait for the deal to be finalized to own Sprite. That's a lot of money being thrown around there. This new addition of Planet 13 is exciting as more marijuana growers and brands from the West coast are slowly moving their operations to Florida, something all of us patients can appreciate. This blockbuster deal is also happening during the last few controversial weeks for Trulieve, where they are experiencing legal issues regarding fraud and extortion.


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