Trulieve set to open newest Arizona cannabis dispensary - Phoenix Business Journal

Trulieve Cannabis Corp., which in 2021 acquired Arizona's largest cannabis operator, has opened its newest retail dispensary in Sierra Vista, just south of Tucson."Our company is driven by our commitment to providing high-quality products and exceptional customer experiences.," said Kim Rivers, Trulieve CEO, in a statement.

Florida-based Trulieve entered the Arizona market in October 2021 when it acquired Tempe-based Harvest Health & Recreation, Arizona's largest cannabis retailer,Over the course of the next year, existing Harvest locations in Arizona will be rebranded to Trulieve. The company opened its first Trulieve-branded dispensary in Phoenix during the second quarter.

Other Trulieve-affiliated dispensaries in Arizona are located in Avondale, Casa Grande, Chandler, Cottonwood, Glendale, Guadalupe, Lake Havasu, Mesa, Peoria, Phoenix, Scottsdale, Tempe and Tucson. In August, the company reported its financial results for the second quarter ending in June, with revenue climbing to $320 million, up 49% from the year-earlier period.

The company reported a net loss of $22.5 million for the period, including nearly $12 million associated with the Harvest acquisition and a $5.2 million earnout payment to acquire cultivation facilities in Arizona, and asset impairments of $4.3 million related to the closure of redundant cultivation facilities in Florida. The company's adjusted net loss was $1.1 million.

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