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Tag Archives: marijuana

Cannabis operator closes on $25.5M Franklin Labs acquisition

Harvest Health & Recreation, a Tempe, Arizona–based multi-state cannabis operator, said it closed on the acquisition of Franklin Labs LLC, a subsidiary of CannaPharmacy, for about $25.5 million. The acquisition, payable with $15.5 million in cash and a $10 million promissory note, includes a 46,800-square-foot cultivation and manufacturing/processing facility in Reading.

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The Cannabis Challenge

Pennsylvania legalized medical marijuana in 2016, and Gov. Tom Wolf has called on the state lawmakers to take the next step; allow its recreational use. Doing so would create new opportunities for entrepreneurs, and new tax revenue for the state. Today, Lehigh Valley Business reports on issues facing this niche industry and the serious obstacles ...

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