Curaleaf Holdings solidified itself as a standout in the US cannabis market after it announced Wednesday, its acquisition of the privately-held GR Companies (Grassroots) valued at US$875 million. The deal has resulted in Curaleaf becoming what it calls itself the world’s largest cannabis company by revenue and the largest in the US across some operating metrics. The cash and stock agreement are expected to close in early 2020 pending approval from shareholders as well as the board of directors from both companies. The deal has brought together “the largest public and largest private multi-state operators in the US,” the press release reads, to offer cannabis products to customers across the country. With the acquisition, Curaleaf is getting control of Grassroots’ 61 dispensary licenses, 20 of them currently in operation, as well as 17 cultivation and processing licenses. After the merger, Curaleaf’s presence will expand to 19 states, up from 12. The newly combined company will have 131 dispensary licenses, 68 physical locations, 20 cultivation sites, and 26 processing facilities.
Hemp Land, Cannabis Hemp Blog, 01/15/2021 07:53:00
Open article: https://hempland.net/curaleaf-to-acquire-grassroots-in-us875-million-deal/