Florida-based Trulieve Cannabis Corp. announced the resignation of its president, Steve White, effective October 1, 2023. White expressed his appreciation for having had the opportunity to work with the dedicated and passionate teams at both Harvest and Trulieve. He cited the common goal of providing patients and customers with increased access to cannabis products as one of the highlights of his time with the company.
A Pioneer in the U.S. Legal Cannabis Industry
Steve White played an instrumental role in shaping the legal cannabis industry in the United States. As an early pioneer, he led the growth of Harvest from a single dispensary to becoming one of the top multi-state operators, boasting cultivation, manufacturing, and retail operations across multiple markets. White was also essential to successfully integrating Harvest’s operations with Trulieve’s after their historic acquisition.
Humble Beginnings: The Rise of Harvest Health & Recreation Inc.
- Launched first-ever medical cannabis dispensary in 2013
- Rapidly expanded with licenses in seven states by 2016
- Obtained public listing on the Canadian Securities Exchange (CSE) in November 2018
White catapulted Harvest Health & Recreation Inc. to new heights, starting with opening its first medical cannabis dispensary in 2013. Within three years, the company had secured licenses in seven states, rapidly expanding its footprint. In November 2018, Harvest went public, listing on the CSE, which further fueled its growth.
Achievements under White’s Leadership at Harvest
- Over 300% increase in company revenue between 2018 and 2020
- Introduction of new cannabis brands such as Modern Flower, Alchemy, and Colors
- Creation of more than 2,000 jobs across the U.S.
Under White’s guidance, Harvest saw a remarkable increase in revenue, soaring over 300% from 2018 to 2020. Introducing new cannabis brands such as Modern Flower, Alchemy, and Colors expanded the company’s product range and customer base. In addition, White’s leadership enabled the creation of over 2,000 jobs throughout the United States.
Milestone Merger: Trulieve Acquires Harvest
In 2021, Trulieve announced its plan to acquire Harvest Health & Recreation Inc., marking a significant milestone for both companies. The transaction was valued at $2.1 billion, making it one of the most significant deals in the history of the U.S. cannabis industry. Upon completion of the acquisition, Steve White joined Trulieve as its president.
The Impact of the Acquisition on Trulieve
- 25% market share in the medical marijuana sector in Florida
- Expansion into Arizona and Pennsylvania markets
- Bolstered cultivation, processing, and retail capabilities
Following the acquisition of Harvest, Trulieve fortified its position within the cannabis industry. The company now holds an impressive 25% market share in the medical marijuana sector in Florida. With expansion into Arizona and Pennsylvania, Trulieve has solidified its presence in the U.S. cannabis market. Furthermore, the merger bolstered Trulieve’s cultivation, processing, and retail capabilities, helping the company face new challenges head-on.
The Future of Trulieve: A Continued Commitment to Growth
Trulieve Cannabis Corp. remains dedicated to pushing the boundaries of the legal cannabis industry in the United States. As it continues to expand into new markets and introduce innovative products, the company will build upon the foundation laid by Steve White and others who have contributed to its success. Though White may be stepping down as president, his impact on both Harvest and Trulieve will undoubtedly continue to shape the future direction of these ventures.
A Legacy of Leadership: Celebrating Steve White’s Accomplishments
As the cannabis industry adapts to new changes and growth opportunities, it will benefit from the legacy left behind by pioneers like Steve White. His hands-on approach and long-term vision successfully guided Harvest through crucial decisions and transformative experiences, culminating in a successful merger with Trulieve. The mark made by White during his tenure with both companies will not be forgotten anytime soon in the ever-evolving world of cannabis.