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10 May 20214 minute read

DLA Piper Canada acting for Trulieve in US$2.1 billion acquisition of Harvest Health & Recreation

On May 10, 2021 Trulieve Cannabis Corp. ("Trulieve") (CSE: TRUL) (OTC: TCNNF) and Harvest Health & Recreation Inc. ("Harvest") (CSE: HARV, OTCQX: HRVSF) announced they have entered into a definitive arrangement agreement pursuant to which Trulieve will acquire all of the issued and outstanding shares of Harvest in an all-stock transaction valued at approximately $2.1 billion.

Trulieve is a leading multi-state operator with a focus on the northeast and southeast regions of the United States. Harvest is a leading multi-state operator with a focus on the west coast and northeast regions of the United States. Upon completion of the transaction, as well as the closing of other previously announced acquisitions by Harvest and Trulieve, the combined business will have operations in 11 states, comprised of 22 cultivation and processing facilities with a total capacity of 3.1 million square feet, and 126 dispensaries serving both the medical and adult-use recreational cannabis markets.

DLA Piper Canada is pleased to be acting for Trulieve on this transaction, with a team led by Derek Sigel and Russel Drew and ‎including Christopher Pejovic, Youssef Aziz, Kevin Fritz (tax), S. Campbell Fitch, J. Kevin Wright (Competition) and Sangeetha Punniyamoorthy (IP).

“We were delighted to work with Trulieve on this important milestone,” said Derek Sigel, one of the DLA Piper Canada partners who led the deal team. “The DLA Piper team has deep experience supporting cannabis industry clients in their M&A and capital markets needs, along with a host of other related matters”, added Russel Drew.

With more than 1,000 corporate lawyers globally, DLA Piper has a leading global M&A practice and has been the highest ranked legal advisor in the world for M&A deal volume for eleven consecutive years, according to Mergermarket's league tables.

DLA Piper’s CBD and International Cannabis practices cover the full range of corporate, intellectual ‎property, technology and R&D, employment, regulatory and litigation matters. We're advising in every ‎segment of the pharmaceutical, biopharmaceutical, wellness and medicinal sectors around the world.‎