High Times Purchasing Two Northern California Marijuana Dispensaries
The magazine that’s been promoting marijuana and counter culture for decades is now dipping its toes in the Northern California cannabis industry.
High Times has announced its acquisition of two dispensaries in Shasta County, entering an agreement to purchase 530 Collective in Shasta Lake and Synergy in Redding. The move is part of High Times’ IPO campaign, which is furthering the company’s stature as the worldâ€™s most well-known cannabis brand.
â€œEffective market penetration in the worldâ€™s largest cannabis market, California, has been a core focus for us since weâ€™ve announced our plant-touching plans,â€ Adam E. Levin, Executive Chairman of High Times stated. â€œThe acquisition of these stores will provide us with not only greater coverage area within the state, but with a well-oiled machine to grow as we expand our operations. The J@G and 530 teams have already developed lasting relationships with their communities, and we believe they will be an example as we continue to flesh out our model, and develop the 2.0 cannabis consumer experience.â€
530 Collective has been operating in Shasta Lake for the past 11 years, becoming a staple in the community and growing consistently before and after the legalization of recreational marijuana use in California. Synergy has been open in Redding since 2018, growing at a rapid pace and branding itself as the top dispensary in the Redding area. High Times will retain both dispensaries combined 43 employees.