In a note published after the deal’s announcement, Cowen Research said that the deal will give Trulieve industry-leading margins at 37%.
Today, Trulieve, which is the largest Florida cannabis company by far with about 50% market share, operates in six states with 82 of its 87 dispensaries in the Sunshine State.
Rivers says Trulieve has been on the hunt for an acquisition for some time and Harvest’s footprint is in line with Trulieve’s strategy of building regional hubs.
Today, Trulieve has anchored its southeast operations in Florida and once the deal is complete Trulieve will have a hub in Arizona and Pennsylvania.
Rivers says when federal law changes, her company’s operations will help fuel a national distribution model.
White, who founded Harvest in 2011, launched the company with one dispensary in Arizona.
I am a staff writer on the vices beat, covering cannabis, gambling and more.
Previously at Forbes, I covered the world’s richest people as a member of the wealth team.