Harvest Health in Negotiations to Acquire Have a Heart For $87.5 Million

Multistate cannabis operator Harvest Health & Recreation (OTC: HRVSF) has its sights set on being an industry leader in the U.S. and it's making strides to do just that. This week, the company announced that it is in talks to acquire Interurban Capital Group, a management services company that owns cannabis company Have a Heart.

The potential all-stock transaction is worth approximately $87.5 million. Have a Heart has 11 dispensaries in three states – Washington, California, and Iowa. It also has retail licenses in California which could expand Harvest Health's presence there. 

Currently, Harvest Health has retail locations in Arizona, California, Florida, Maryland, North Dakota and Pennsylvania. It is also planning to expand into Michigan and Arkansas later this year. It's already one of the largest multistate operators in the country and it could have approximately 130 retail locations across the country if all its planned acquisitions go through. 

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Source Fool.com