Longtime Magazine High Times Makes a Move into Cannabis Retail
The popular publication has purchased 13 dispensaries from an Arizona-based company.
High Times has been the stoner’s bible since the first issue hit newsstands in 1974. Now the LA-based company, which also owns Dope Magazine, Culture Magazine, Green Rush Daily and the Cannabis Cup brands, is jumping into the retail cannabis business. Arizona-based Harvest Health & Recreation Inc. has operations in six states (including California), and has agreed to transfer ownership of five of its 13 dispensaries to High Times with the right to acquire another eight. All in, the cash-and-stock deal is worth $80MM.
Says High Times executive chairman Adam Levin, “We’ve long supported Harvest and the other cannabis-retail-trailblazers as they pushed forward despite changing legislation, insurmountable licensing fees, political stigma and, frankly, through a process that was designed to be difficult.”
High Times hopes to reimagine their Harvest Health locations into “destination dispensaries,” and weaving in the iconic magazine’s color palette to draw in longtime fans of the brand. You can click here to read more on the deal.
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