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Merger Aims To Create Arizona's Largest Medical Marijuana Operator
There’s been a major development in Arizona’s medical cannabis industry. A top dispensary operator and a wholesaler are merging with the goal of becoming the state’s largest medical marijuana operator.
Harvest of Arizona, which has retail dispensaries in Tempe and Scottsdale, is joining forces with cultivator Modern Flower, which calls itself the state’s leading wholesale supplier of marijuana.
The merger means Harvest will own a total of eight dispensaries and seven cultivation centers around the state. The company’s CEO believes consolidation will aid in competition, not discourage it, and is ultimately designed to lower prices for the state’s 115,000 medical marijuana users.
The business has been rapidly growing in Arizona. Nearly 100 dispensaries are currently open, and last year, the state expanded the number of licenses to 130 and new shops are preparing to open.