Please ensure Javascript is enabled for purposes of website accessibility
High Times Owner Scores 13 California Marijuana Dispensaries
gvw_ap_news
By Associated Press
Published 5 years ago on
April 28, 2020

Share

LOS ANGELES — The owner of High Times is going to start selling marijuana after championing its use in the pages of its magazine for nearly half a century.

Hightimes Holding Corp. said Tuesday is acquiring 13 dispensaries from Harvest Health and Recreation, one of the largest multi-state producers and sellers of cannabis in the U.S.

Hightimes Holding Corp. said Tuesday is acquiring 13 dispensaries from Harvest Health and Recreation, one of the largest multi-state producers and sellers of cannabis in the U.S.

Hightimes said the cash and stock deal valued at $80 million makes Tempe, Arizona-based Harvest a “significant” shareholder in Hightimes, which is preparing to make an initial public offering of stock.

The sale, which includes dispensaries Oakland, San Francisco and Los Angeles, represents Hightimes’ first foray into the retail business. The company said it will revamp and rebrand the stores, which will be licensed for regional delivery.

The deal is expected to close by June 30.

The move is the latest by Hightimes to diversify in hopes of getting a slice of the burgeoning legal marijuana market. Nearly a dozen states now allow the use and sale of marijuana for recreational purposes.

Last month, Hightimes signed a letter of intent to acquire California-based cannabis producer Humboldt Heritage Inc.

RELATED TOPICS:

DON'T MISS

What Are Fresno Real Estate Experts Predicting for 2025 and Beyond?

UP NEXT

Gov. Newsom Lambasts Trump for Giving Immigrants’ Health Data to Deportation Officials

Fresno Approves $2.4 Billion Budget. What’s In, What’s Out?

3 hours ago

The S&P 500 Is Nearing a Record. Really.

3 hours ago

How Trump Shifted on Iran Under Pressure From Israel

By the end of last month, American spy agencies monitoring Israel’s military activities and discussions among the country’s political leader...

1 hour ago

President Donald Trump speaks during an Invest America Roundtable in the State Dining room, at the White House, in Washington, U.S., June 9, 2025. REUTERS/Evelyn Hockstein
1 hour ago

How Trump Shifted on Iran Under Pressure From Israel

A firefighter works to extinguish a fire on a bus following a missile attack from Iran, in Herzliya, Israel, June 17, 2025. (Reuters/Ronen Zvulun)
2 hours ago

Trump Calls for Iran’s ‘Unconditional Surrender’ as Israel-Iran Air War Rages On

Supreme Court Justice Ketanji Brown Jackson speaks to the 2025 Supreme Court Fellows Program, Thursday, Feb. 13, 2025, at the Library of Congress in Washington, D.C. (Reuters File)
3 hours ago

US Supreme Court Justices Disclose Income From Book Deals and Teaching

3 hours ago

Fresno Approves $2.4 Billion Budget. What’s In, What’s Out?

3 hours ago

The S&P 500 Is Nearing a Record. Really.

4 hours ago

Only Nonviolence Will Beat Trump

4 hours ago

Kaweah Health CEO Says He’s Ready to Retire After 34 Years at Hospital

4 hours ago

Obama Steps Back Into Public Eye at a Stormy Political Moment

Help continue the work that gets you the news that matters most.

Search

Send this to a friend