Arizona-based Harvest Health and Recreation (HRVSF OTCMKTS) announced it acquired three competitor-operated dispensaries in the state. HRVSF now owns 14 of the 120 dispensaries in the Grand Canyon State.
In a press release, HRVSF also announced plans for a nationwide expansion. If all of their potential acquisitions go through, the company will operate over 130 retail locations, while employing more than 1,700 employees in 18 states, according to AZ Central. Harvest hopes that these acquisitions and potential nationwide expansion will help their stock rebound in Q2020, after taking a nosedive in September 2019.
"We are excited to further deepen our operations in our home state of Arizona expanding our cultivation, processing, and retail operations," Harvest CEO Steve White said in a press release.