The Massachusetts-based Curaleaf has become one of the largest multistate cannabis operators in the United States due to its diversified market business plan. The company adopting a broad-market approach – with scores of cultivation, processing, and dispensary facilities with business stretching across 23 states. Curaleaf’s outreach in multiple markets comes at a time when other multi-state operators have retrenched and refocused operations. The market entrenchment has occurred to conserve cash after investors grew hesitant to wager on cannabis and capital became tight. The Grassroots acquisition expanded Curaleaf’s footprint from 18 to 23 states, with 88 operating dispensaries or retail outlets. According to industry experts, Curaleaf’s success so far can be attributed to a combination of factors, like how billionaire backing and raised $400 million in its initial public offering in October 2018, enabling the company to rapidly expand into new markets.
Marijuana Business Daily, 08/26/2020 06:30:52