Cannabis company, Harvest Health & Recreation, acquires Franklin Labs, a subsidiary of CannaPharmacy, for $25.5M.
"This accretive acquisition helps to alleviate supply constraints in a fast-growing market, while contributing to improved financial performance...this investment in Pennsylvania is an important milestone in our plan to expand operations in key states and return to profitability."
Harvest CEO Steve White.
This deal includes a 46,800 sq. ft. cultivation and manufacturing/processing plant in Reading, Pennsylvania. Harvest looks to expand the existing cultivation operation and expand its market footprint as a premier Cannabis Company in the US.