Tempe-based Harvest Health plans divestitures to shore up bottom line

Posted at 9:30 AM, Nov 18, 2020
and last updated 2020-11-18 11:30:29-05

Steve White is changing his strategy — and he says it's starting to pay off.

Over the past few years, the CEO of Tempe-based Harvest Health & Recreation Inc., one of the country's largest publicly traded cannabis industry businesses, was in full acquisition mode, but now he's in divestiture mode.

Last year, the feds threw a monkey wrench into his acquisition plans, White told the Business Journal.

"Some of those acquisitions didn't close," he said. "We had to start cutting back on some of our costs and rightsizing the organization. We are largely complete with that process at this point. Our financials reflect the efforts we've made over the past nine months or so."

Read more from the Phoenix Business Journal.