Hightimes Deal Will Put Magazine Brand’s on Marijuana Stores

Hightimes Holding Corp., owner of the cannabis culture magazine, will buy 13 dispensaries from Harvest Health & Recreation Inc., making it one of the largest branded retailers of cannabis in California.

The deal, for $80 million in cash and stock, comes as Hightimes approaches a May 15 termination date for an initial public offering that it has planned for since 2018. Hightimes will rebrand Harvest’s current retail locations in California, including one on San Francisco’s Geary Street with a high-end boutique neighbor, Adam Levin, Hightimes’ executive chairman, said.