Harborside: Q3 Results Reflect Execution On Turn-Over; Acquisitions Allow Scaling In CA
Jon DeCourcey
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Summary
- Q3 results impacted by CA pricing but reflect execution.
- Urbn Leaf acquisition expands retail presence particularly in Southern CA. Loudpack enhances production capabiltiies and brand portfolio.
- Deals follow acquisitions of Sublime brands and cultivation assets in recent months.
- Acquisitions position Harborside to be a CA leader in scale. Longer term likely make Harborside a more viable takeout by MSO.
- Company to rename StateHouse Holdings with Urbn Leaf CEO becoming CEO of consolidated entity.
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Jon Decourcey joined Viridian Capital Advisors as Director of Equity Research in November 2020. Prior to this, Mr. Decourcey worked for the Canaccord Genuity equity research team in 2014, initially in the Infrastructure and Manufacturing Technology sector, and since 2018, with a focus on the Cannabis sector. There, he was responsible for the research coverage of public companies involved in the U.S. cannabis industry, from vertically integrated cannabis operators, to branded products manufacturers and ancillary service providers. He also developed and maintained proprietary market forecast models for the U.S. cannabis and hemp-derived CBD markets overall, and for specific states individually.
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