Tempe marijuana business buys out competitor in $850m deal

PHOENIX (FOX 10) -- It's considered one of the biggest legal pot deals around, as Harvest Inc. of Tempe bought out its biggest competitor, Verano, for $850 million, making Harvest the biggest marijuana distribution company in the country.

Steve White has an unassuming name, an unassuming office building in Tempe, and a low profile in Arizona, but that all changed on Monday, with the buyout of Verano. It's the largest pot deal ever in the United States. Harvest will have access to 200 licenses across 16 states, some of them where recreational marijuana is not yet legal.

FOX 10's Matt Rodewald reports.