Add-on Acquisition • Agriculture

Harvest Health & Recreation Acquires Verano Holdings

On March 11, 2019, Harvest Health & Recreation acquired agriculture company Verano Holdings for 850M USD

Acquisition Context
  • This is Harvest Health & Recreation’s 1st transaction in the Agriculture sector.
  • This is Harvest Health & Recreation’s largest (disclosed) transaction.
  • This is Harvest Health & Recreation’s 4th transaction in the United States.
  • This is Harvest Health & Recreation’s 1st transaction in Illinois.

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M&A Deal Summary

Date March 11, 2019
Target Verano Holdings
Sector Agriculture
Buyer(s) Harvest Health & Recreation
Deal Type Add-on Acquisition
Deal Value 850M USD

Target Company

Verano Holdings

Chicago, Illinois, United States
Verano Holdings LLC is a privately held multi-state, vertically integrated licensed operator of cannabis facilities. Verano is based in Chicago, Illinois.
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Buyer Overview 1

Buyer

Harvest Health & Recreation

Tempe, Arizona, United States

Category Company
Sector Consumer Products
DESCRIPTION

Harvest Health & Recreation, Inc. is a vertically integrated cannabis company with permits and licenses in 10 U.S. states (including local approvals in Massachusetts). Harvest Health & Recreation is based in Tempe, Arizona.


Deal Context for Buyer #
Overall 4 of 7
Sector: Agriculture 1 of 1
Type: Add-on Acquisition 4 of 6
State: Illinois 1 of 1
Country: United States 4 of 7
Year: 2019 2 of 2
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-14 Falcon International

Daytona Beach, Florida, United States

Falcon International Corp. is a cannabis company provides cultivation, manufacturing, wholesale distribution, and brand development, for a non-material. Falcon International is based in Daytona Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-02 MJardin Group

Denver, Colorado, United States

MJardin Group, Inc. is a specialized global cannabis management platform that develops partnerships with licensed operators. MJardin provides its partners turnkey cannabis cultivation, processing and retail solutions, including licensure support, facility design, systems implementation, facility ramp-up, and the day-to-day operational management required in a large-scale, professionally managed cannabis facility. MJardin is headquartered in Denver, Colorado with an additional office in Toronto, Ontario.

Buy $35M