Photo: © Jake Gravbrot
In the fall of 2021, the executive team at Planet 13 signed a definitive license purchase agreement with a subsidiary of Harvest Health & Recreation Inc. to pick up a medical marijuana treatment center (MMTC) license in Florida. For the Las Vegas retail market juggernaut, the promise of sales in the Sunshine State became an important part of the Planet 13 story. It was a beacon for the company’s rapid growth.
“Florida has long been one of our most coveted markets with over 20 million residents, 130 million annual visitors and incredible consumer demand already demonstrated in the medical program,” Planet 13 co-CEO Larry Scheffler said when announcing the acquisition, which was completed a month later.
The MMTC license is vertically integrated and allows each holder to operate up to 25 dispensaries in the state. Already, Planet 13 has signed a lease on property near Jacksonville. The company has also scoped out Orlando, Miami and Tampa as potential locations in the future.
A major expansion on the other side of the country—in a limited-license landscape no less—is no small task. It’s taken a great deal of planning to land on the doorstep of a market like Florida,