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Harvest Health and Recreation

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Namestring
Harvest Health and Recreation
Websiteurl
harvesthoc.com
Company typeenum
Private
Founded yearint
2011
Descriptiontext

Harvest Health and Recreation is a vertically integrated U.S. cannabis operator that provided medical marijuana products through a multi-state network of dispensaries, cultivation sites, and processing facilities. Founded in 2011 and headquartered in Tempe, Arizona, the company traded publicly on the Canadian Securities Exchange under the ticker HARV and built a footprint spanning multiple U.S. state markets. Its core business model combined retail dispensary operations with vertically integrated cultivation and processing, enabling direct control over product quality, supply, and unit economics. Harvest pursued an aggressive growth-by-acquisition strategy, acquiring Have a Heart in January 2020 for $85.8 million to expand its retail footprint and Franklin Labs in March 2020 for $25.5 million to add cultivation capacity. The company funded this expansion through a series of capital raises between 2018 and 2020 totaling more than $516 million, including a $218.15 million Series 4 round and a $94 million round led by Alliance Global Partners and Canaccord Genuity Group.

Harvest's primary customers were retail cannabis consumers purchasing medical marijuana products, with no named enterprise clients or B2B contracts disclosed in available data. The company did not disclose product pricing, technology stack details, or specific revenue figures in the source material. Its primary economic moat was regulatory: state-issued cannabis licenses are finite, jurisdictionally constrained assets that competitors cannot easily replicate, and Harvest's multi-state operator (MSO) positioning amplified the value of those licenses through operational scale and cross-state infrastructure amortization. The company employed 501 to 1,000 people at peak.

In a transaction valued at approximately $2.1 billion, Harvest Health and Recreation was acquired by Trulieve Cannabis Corporation, becoming part of one of the largest multi-state cannabis operator consolidations in the U.S. industry. Sean Coyle served as lead U.S. counsel for Trulieve in the acquisition. Following the deal, Harvest ceased to operate as an independent entity, with its assets, licenses, dispensaries, and cultivation operations absorbed into Trulieve's broader multi-state footprint.

Short descriptiontext

Harvest Health and Recreation is a vertically integrated U.S. multi-state cannabis operator that provided medical marijuana products through dispensaries, cultivation, and processing. Founded in 2011 in Tempe, Arizona, it was acquired by Trulieve in a $2.1 billion transaction.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
501–1,000
akta.pro rankint
HeadquartersTempe, United States
HQ citystring
Tempe
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
medical marijuana, cannabis products, cannabis dispensary, cannabis cultivation, cannabis retail
Product category
Medical Cannabis
Social media profiles1 record
Cost components5 values
Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D
GTM typeB2C
B2C
Offering typeHardware or Manufacturing
Hardware or Manufacturing
Core offering1 text field

Harvest Health and Recreation is a multi-state cannabis operator that cultivates, processes, and retails medical marijuana products through its owned dispensary network. The company operated across multiple U.S. state-legal cannabis markets and pursued vertical integration spanning cultivation, processing, and dispensary retail under house brands such as Trulieve, Roll One, Modern Flower, Cultivar, Sweet Talk, Co2lors, Momenta, and Alchemy.

Differentiator
Functional benefit
Problem solved
Product and service2 records
1Medical Marijuana Products
CategoryCannabis Retail
2Trulieve House Brand Portfolio
CategoryCannabis Brands
Scale indicator1 record

Each record includes

Type, Value, Description, Source

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Market position
Competitive moat3 records

Each record includes

Type, Details

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds6 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors2 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Harvest Health and Recreation

Medical Cannabisharvesthoc.com

Harvest Health and Recreation is a vertically integrated U.S. multi-state cannabis operator that provided medical marijuana products through dispensaries, cultivation, and processing. Founded in 2011 in Tempe, Arizona, it was acquired by Trulieve in a $2.1 billion transaction.

What Harvest Health and Recreation does

Harvest Health and Recreation is a vertically integrated U.S. cannabis operator that provided medical marijuana products through a multi-state network of dispensaries, cultivation sites, and processing facilities. Founded in 2011 and headquartered in Tempe, Arizona, the company traded publicly on the Canadian Securities Exchange under the ticker HARV and built a footprint spanning multiple U.S. state markets. Its core business model combined retail dispensary operations with vertically integrated cultivation and processing, enabling direct control over product quality, supply, and unit economics. Harvest pursued an aggressive growth-by-acquisition strategy, acquiring Have a Heart in January 2020 for $85.8 million to expand its retail footprint and Franklin Labs in March 2020 for $25.5 million to add cultivation capacity. The company funded this expansion through a series of capital raises between 2018 and 2020 totaling more than $516 million, including a $218.15 million Series 4 round and a $94 million round led by Alliance Global Partners and Canaccord Genuity Group.

Harvest's primary customers were retail cannabis consumers purchasing medical marijuana products, with no named enterprise clients or B2B contracts disclosed in available data. The company did not disclose product pricing, technology stack details, or specific revenue figures in the source material. Its primary economic moat was regulatory: state-issued cannabis licenses are finite, jurisdictionally constrained assets that competitors cannot easily replicate, and Harvest's multi-state operator (MSO) positioning amplified the value of those licenses through operational scale and cross-state infrastructure amortization. The company employed 501 to 1,000 people at peak.

In a transaction valued at approximately $2.1 billion, Harvest Health and Recreation was acquired by Trulieve Cannabis Corporation, becoming part of one of the largest multi-state cannabis operator consolidations in the U.S. industry. Sean Coyle served as lead U.S. counsel for Trulieve in the acquisition. Following the deal, Harvest ceased to operate as an independent entity, with its assets, licenses, dispensaries, and cultivation operations absorbed into Trulieve's broader multi-state footprint.

Harvest Health and Recreation firmographics

Firmographics
Name
Harvest Health and Recreation
Website
https://harvesthoc.com
Company type
Private
Founded year
2011
Operating status
Acquired
Headcount range
501–1,000 employees
Short description
Harvest Health and Recreation is a vertically integrated U.S. multi-state cannabis operator that provided medical marijuana products through dispensaries, cultivation, and processing. Founded in 2011 in Tempe, Arizona, it was acquired by Trulieve in a $2.1 billion transaction.
Ownership category
akta.pro rank

Where Harvest Health and Recreation is headquartered

Location

Headquarters

HQ city
Tempe
HQ country
United States
HQ region
North America

Markets served

Harvest Health and Recreation business model

Business model
GTM type
B2C
Offering type
Hardware or Manufacturing
Cost components
Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D

Harvest Health and Recreation product offering

Product offering

Core offering

Harvest Health and Recreation is a multi-state cannabis operator that cultivates, processes, and retails medical marijuana products through its owned dispensary network. The company operated across multiple U.S. state-legal cannabis markets and pursued vertical integration spanning cultivation, processing, and dispensary retail under house brands such as Trulieve, Roll One, Modern Flower, Cultivar, Sweet Talk, Co2lors, Momenta, and Alchemy.

Differentiator

Problem solved

Functional benefit

Products and services

  • Medical Marijuana Products
  • Trulieve House Brand Portfolio

Companies that use Harvest Health and Recreation

Customer profile

Ideal customer profiles1 record

Harvest Health and Recreation technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Harvest Health and Recreation partnerships and signals

Strategic signal

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Harvest Health and Recreation competitors and assessment

Company assessment

Market position

Competitive moat3 records

Customer concentration

Harvest Health and Recreation social profiles

Digital presence

Harvest Health and Recreation financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Harvest Health and Recreation leadership team

Management profile

Number of profiles

Harvest Health and Recreation funding detail

Funding detail

Funding overview

Funding rounds6 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Harvest Health and Recreation M&A and investment

M&A and investment

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Harvest Health and Recreation

What does Harvest Health and Recreation do?

Harvest Health and Recreation is a multi-state cannabis operator that cultivates, processes, and retails medical marijuana products through its owned dispensary network. The company operated across multiple U.S. state-legal cannabis markets and pursued vertical integration spanning cultivation, processing, and dispensary retail under house brands such as Trulieve, Roll One, Modern Flower, Cultivar, Sweet Talk, Co2lors, Momenta, and Alchemy.

Is Harvest Health and Recreation a public or private company?

Harvest Health and Recreation is a private company. It is classified as corporate owned and is currently acquired.

When was Harvest Health and Recreation founded?

Harvest Health and Recreation was founded in 2011. It employs 501 to 1,000 people.

Where is Harvest Health and Recreation based?

Harvest Health and Recreation is headquartered in Tempe, United States, in the North America region.

Does Harvest Health and Recreation have an API?

No public API is recorded for Harvest Health and Recreation.

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Live signals
Markets DailyAnalyzing Amphastar Pharmaceuticals (NASDAQ:AMPH) & Harvest Health & Recreation (OTCMKTS:HRVSF)Amphastar Pharmaceuticals and Harvest Health & Recreation are compared on profitability, valuation, and ownership. Amphastar has higher revenue ($719.89M), earnings ($98.09M), and a consensus target price of $22.50, beating Harvest on all eight factors.Markets DailyHarvest Health & Recreation (OTCMKTS:HRVSF) Trading 0.9% Higher – Still a Buy?Harvest Health & Recreation Inc. shares rose 0.9% during mid-day trading on Thursday, reaching a high of $3.34 before settling at $3.22. Trading volume declined significantly by 64% compared to the average daily volume of over 717,000 shares.MjbizdailyThe cannabis CEO behind a $2.1 billion sale is betting smallerJason Vedadi, founder who sold Arizona-based Harvest Health & Recreation to Trulieve Cannabis Corp. for $2.1 billion in 2021, is now building a new cannabis company called Story Cannabis with a more selective state-by-state approach than his previous multistate operator. As CEO of the privately held Phoenix company, Vedadi is focusing on profitable markets like Arizona and Ohio while eyeing emerging opportunities in Texas, Virginia, and North Carolina, and has applied for DEA registration following medical cannabis rescheduling to Schedule 3. He predicts mega-mergers will follow federal adult-use rescheduling and expects price compression and oversupply to eventually affect every market, similar to other commodities.PR NewswireTrulieve Announces Retirement of President Steve WhiteTrulieve Cannabis Corp. announced the resignation of its President, Steve White, effective October 1, 2023, while he will continue to serve as a strategic advisor until the end of the year. White was instrumental in integrating Harvest Health & Recreation into Trulieve following its acquisition.BenzingaViridian Chart Of The Week: Tracking The Rotation Of M&A Transactions By U.S. StateU.S. cannabis M&A consideration fell 11% to $6.35 billion in the twelve months ended August 2022, with transaction volume declining 20.5% to 136 deals from 171 in the prior year period, according to Viridian Capital Advisors. Arizona ascended to the top position, driven primarily by Trulieve's $1.41 billion acquisition of Harvest Health & Recreation in October 2021, while New York climbed to #2 and California dropped 78% to $682 million. The data indicates that M&A activity is shifting toward newer adult-use Eastern States and becoming more geographically distributed, with 14 states now exceeding $75 million in consideration compared to 9 previously.PR NewswireTrulieve Delivers Record Second Quarter 2022 Results Driven by Organic Retail SalesTrulieve Cannabis Corp. announced record second quarter 2022 revenue of $320.3 million, up 49% year-over-year, alongside a GAAP net loss of $22.5 million amid ongoing integration costs from its acquisition of Harvest Health & Recreation. The company operates 175 retail dispensaries across 11 U.S. states with over 4.0 million square feet of cultivation capacity. Citing inflation pressures on consumer spending, wholesale market weakness, and macroeconomic uncertainty, Trulieve lowered its 2022 full-year revenue guidance by 5% to a range of $1.25 to $1.3 billion and indicated plans to streamline operations, including exiting wholesale business in Nevada and closing redundant cultivation facilities in Florida.PR NewswireFollowing the Money as Cannabis Investment and M&A BoomsThe cannabis industry experienced 165% year-over-year growth in capital investment in 2021, marking a historic rebound after a struggling 2020. Major multi-state operators drove consolidation through blockbuster deals including Cresco Labs' $2 billion acquisition of Columbia Care and Trulieve's $2.1 billion acquisition of Harvest Health & Recreation. More than fifty private equity, venture capital, and angel firms are now actively deploying capital across the sector, positioning the industry for continued growth as the U.S. moves toward potential federal legalization.PR NewswireCannabis Market Overview 2022: Key Developments, Global Trends and Forecasts to 2026ResearchAndMarkets.com published a market report showing combined global sales of CBD, medical and adult-use cannabis reached $37.4 billion in 2021, with forecasts projecting growth to $105 billion by 2026, driven by legalization rebounds and record-breaking sales following a difficult 2020. Major cannabis M&A activity highlighted in the report includes Jazz Pharmaceuticals' $7.2 billion acquisition of GW Pharmaceuticals in May 2021, the Aphria-Tilray merger, and Trulieve's $2.2 billion acquisition of Harvest Health and Recreation. The balance of cannabis production is shifting from traditional strongholds in Canada and the Netherlands toward warmer-climate regions including Latin America, the Mediterranean, and Africa, while Germany moves toward establishing what could become the largest cannabis industry outside North America.PR NewswireTrulieve Announces Resale Registration Statement FilingsTrulieve Cannabis Corp. filed a resale registration statement on Form S-1 with the SEC on January 21, 2022, to register 1,577,600 Subordinate Voting Shares issued as consideration for five acquisitions completed in 2021. The company also filed a post-effective amendment to its existing resale registration statement to include updated financial information related to the pending acquisition of Harvest Health & Recreation Inc. The company will not receive any proceeds from the resale of these shares by the selling shareholders.GlobeNewswireTrulieve Announces Closing of $350 Million PrivateTrulieve Cannabis Corp. closed a $350 million private placement of 8% Senior Secured Notes due in 2026, marking the largest debt financing to date for any public multi-state cannabis operator. The company intends to use the net proceeds to redeem certain outstanding indebtedness of Harvest Health & Recreation Inc. following its acquisition on October 1, 2021, as well as for capital expenditures and general corporate purposes.