Trulieve Cannabis (TCNNF -0.39%) already ranks as one of the top U.S. multi-state cannabis operators. With its pending acquisition of Harvest Health & Recreation (HRVSF), the company will become an even bigger force to be reckoned with. In this Motley Fool Live video recorded on June 11, healthcare and cannabis bureau editor and analyst Olivia Zitkus and Motley Fool contributor Keith Speights discuss why Trulieve's acquisition of Harvest Health could pay off big-time.

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Olivia Zitkus: We've got one other question here on Truelieve and Harvest Health, that acquisition. Do you have any immediate things to look for there, Keith?

Keith Speights: Yeah. My gut reaction to Truelieve and the Harvest Health deal in particular is that this was a good move for Truelieve. In my view anyway, look Trulieve is the 800-pound gorilla in Florida's Medical Cannabis market. I think they have a market share of right around 50%.

The issue for Trulieve to me anyway, over the last year or two has been can they expand outside of Florida? Yes, they've gotten some operations in several other states, but they are still in their infancy, and so Trulieve really has been a Florida story for its entire existence.

But now this Harvest Health deal, I think, has the potential to really catapult Trulieve into several new states. I think this deal actually increases their addressable market by close to 50%, by over $6 billion. Just in terms of addressable market.

Look, I think Trulieve needed to do something to really move beyond just Florida instead of just really small tuck-in acquisitions. Harvest Health could be something that moves the needle for the company, and I think this is the right move for Trulieve and we'll see how it plays out. I could be wrong. [laughs] As always, I could be wrong. But this is a deal that I think might end up in retrospect looking like a really good move for this juggernaut in the Florida market.

Zitkus: Yeah, totally. I mean, it's going to create the most profitable U.S multi-state operator. That means it's something to look for, and something to keep an eye on.