News: Press Release
Offit Kurman Serves as Maryland Regulatory Counsel to Harvest Health & Recreation in Its $2.1B Acquisition By Trulieve
Offit Kurman attorneys Jonathan Wachs and Julia Taylor recently served as Maryland regulatory counsel to Harvest Health & Recreation, Inc. on its acquisition by Trulieve Cannabis Corporation (CSE: TRUL) (OTCQX: TCNNF) in a $2.1 billion deal which recently created the nation’s most profitable multistate cannabis operator. The combined business has operations in 11 states, with 22 cultivation and processing facilities, a total capacity of 3.1 million square feet, and 126 dispensaries serving both the medical and adult-use recreational cannabis markets. Offit Kurman assisted the parties by facilitating the transfer of Harvest’s cultivation license and three dispensary licenses and also by restructuring Harvest’s processor license to remain in compliance with applicable regulations.
“We were truly honored to assist Harvest and Trulieve on this precedent setting and highly valuable transaction,” stated Wachs. “The combined resources of Harvest and Trulieve will set a new and higher standard for best in class vertically integrated multi-state cannabis operators.”
When asked about Offit Kurman’s support for the transaction, Eric Powers, Trulieve’s Chief Legal Officer, stated “the lawyers at Offit were creative and solutions-oriented in addressing our legal needs, and their advice and guidance were critical in getting the necessary regulatory approval in Maryland to permit Trulieve’s acquisition of Harvest to close.”
For full deal details, please see Trulieve’s official press release. Trulieve announced the closing of the deal on October 1, 2021.
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