Deal includes entirety of The Source’s operations, including four dispensary locations, two provisional dispensary licenses and one cultivation facility
MESQUITE, Nev. , Nov. 4, 2024 /PRNewswire-PRWeb/ — Deep Roots Harvest, Nevada’s fastest-growing cannabis company, is pleased to announce the acquisition of The Source, one of Nevada’s premier cannabis operators. This strategic acquisition includes a comprehensive portfolio of assets spanning retail, distribution and cultivation operations. With this acquisition, Deep Roots Harvest will now operate four additional dispensary locations in Las Vegas, Henderson, North Las Vegas and Pahrump. The acquisition strengthens Deep Roots Harvest’s market leadership in Nevada, enabling both companies to enhance product offerings, elevate customer service and deepen their commitment to community engagement and philanthropy.
“With the completion of this deal, we have an opportunity to lead the next phase for the cannabis industry in Nevada,” said Jon Marshall, Chief Operating Officer at Deep Roots Harvest. “We look forward to working with our new colleagues at The Source to continue to bring Nevada consumers the quality, service and innovation they have come to expect from two of the state’s biggest cannabis operators.”
Under the agreement, Deep Roots Harvest has acquired four Source dispensary locations in Las Vegas, Henderson, North Las Vegas and Pahrump, along with two provisional dispensary licenses – one in Henderson and one in the City of Las Vegas along with a provisional lounge license. In addition, Deep Roots acquired the Pahrump cultivation facility and Clark County distribution, cultivation and production licenses. Deep Roots will continue to operate the acquired retail locations under The Source brand. Cultivation, production and distribution operations will be consolidated and utilized across both retail brands.
“It is incredible to conclude this deal and let the teams get to work serving the needs of Nevada consumers,” said Jacques Santucci of Opus Consulting, Receiver for The Source since mid-2023.
Nevada’s fastest-growing cannabis company, Deep Roots Harvest has steadily expanded its operations and facilities throughout its 10-year operating history. With the acquisition of The Source complete, the company now has more than 400 employees statewide. The addition of The Source’s operations makes Deep Roots Harvest one of the biggest operators in the state and secures its position as Nevada’s dominant, best-in-class cannabis business.
