Curaleaf to Acquire Cura Partners in $1.27 Billion All-Stock Deal, Strengthening Leadership in U.S. Cannabis Market

VCBeat (WeChat ID: vcbeat) has learned that medical cannabis company Curaleaf recently acquired cannabis company Cura Partners for CAD 1.27 billion (approximately USD 950 million). This marks the largest acquisition to date in the U.S. cannabis industry.

In terms of market capitalization, Curaleaf is currently the largest medical cannabis company in the United States, and this acquisition will enable the company to maintain its dominant position in the cannabis sector. The transaction is expected to close later this year.

It is understood that Curaleaf will issue 95.6 million subordinate voting shares to acquire all outstanding equity interests in Cura Partners. Upon completion of the transaction, Cura Partners will hold approximately 16% of Curaleaf’s shares. In a press release, Curaleaf stated that the all-stock acquisition would enable the company to maintain financial flexibility, allowing it to pursue additional acquisition opportunities and other strategic initiatives.

Curaleaf acquired nearly all of Cura Partners’ operations, including the manufacturing, processing, distribution, and retail activities associated with its Select brand, as well as all adult-use cannabis products and intellectual property sold under the Select brand. However, Cura Partners’ CBD business was excluded from the acquisition due to Curaleaf’s already robust cannabidiol (CBD) portfolio.

Headquartered in Massachusetts, USA, Curaleaf is a medical cannabis company. The company went public in Canada in 2018 and is currently the largest medical cannabis company by market capitalization in the United States. It operates in 12 U.S. states, with 44 dispensaries, 12 cultivation sites, and 11 processing facilities. In 2018, the company’s revenue was approximately $117 million.

Cura Partners, founded in 2015 and headquartered in Oregon, USA, is a cannabis company. Its brand, Select, sells products through more than 900 retailers across western U.S. states, including Arizona, California, Nevada, and Oregon.

It is reported that Curaleaf enjoys high brand recognition on the U.S. East Coast, while Cura Partners holds significant brand influence in the western region. This acquisition will integrate two major U.S. brands, Curaleaf and Select, enhancing geographic advantages and providing a diverse range of cannabis products nationwide. The merged company’s annual revenue is projected to exceed $200 million, making it the largest cannabis company in the United States.

Curaleaf CEO Joseph Lusardi stated, “Curaleaf boasts industry-leading production capacity and an extensive retail distribution network, while Cura Partners possesses strong sales and marketing capabilities. Following the acquisition, we will operate in 15 U.S. states where cannabis is legal, and join forces to advance the legalization of cannabis across the United States.”

(Compiled by Jiao Yanli)