Curaleaf

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Curaleaf
TypePublic
IndustryCannabis industry
Founded2010
Headquarters
Wakefield, Massachusetts
Key people
Boris Jordan, Executive Chairman
Joseph Bayern, CEO
Joseph Lusardi, Vice Chairman
Websitecuraleaf.com

Curaleaf Holdings, Inc. is an American cannabis company, listed on the Canadian stock exchange. Headed by American businessman Boris Jordan, Curaleaf engages in the production and distribution of cannabis products across North America, operating dispensaries in 23 states. The company is headquartered in Wakefield, Massachusetts, and is the world's largest cannabis company by revenue.

History[]

Curaleaf was founded in 2010 under the name PalliaTech. It operated in New Jersey and had a research center in Colorado. In 2013, the investment group Sputnik along with its CEO Boris Jordan took a 35% stake in the company.[1] The company name was changed to Curaleaf in 2018, just prior to going public on Toronto's Canadian Securities Exchange under the symbol CURA.[2] It also raised $400 million in what was considered the largest stock offering in cannabis industry history.[3]

Curaleaf has made several acquisitions in the cannabis industry. It acquired the cannabis oil brand Select in 2019, making it the largest cannabis operator in the United States.[4] The following year it acquired Colorado based edibles maker BlueKudu, which is known for its infused chocolates and gummies.[5]

In 2020, Curaleaf became the world's largest cannabis company by revenue after the purchase of its Chicago-based competitor Grassroots Cannabis.[6] The purchase also expanded the company into 23 states in the U.S.[7][8]

In January 2021, Joseph Bayern, previously the president of Curaleaf, became its CEO.[8][9]

In April 2021, Curaleaf announced that it had completed its previously announced acquisition of EMMAC Life Sciences Limited ("EMMAC"), the largest vertically integrated independent cannabis company in Europe. The acquisition gives Curaleaf cultivation, EU GMP-certified processing, distribution, and R&D operations in several key European cannabis markets, including the United Kingdom, Germany, Italy, Spain and Portugal.[10]

In May 2021, Curaleaf announced it had signed a definitive agreement to acquire Los Sueños Farms and its related entities, the largest licensed outdoor cultivation site in Colorado.[11]

Operations[]

Curaleaf "engages in the production and distribution of cannabis products" across United States and Europe.[12] As of 2021 it operates dispensaries in 23 states.[6] As of 2021, the company has affiliated operations that cover over 135 dispensary licenses, 107 operational dispensary locations, over 30 processing facilities, and 22 cultivation sites with 2.0 million+ square feet of current cultivation capacity. Curaleaf employs over 5,000 team members.[7]

References[]

  1. ^ "Jordan Buys Into New Medicine". The Moscow Times. 31 July 2013.
  2. ^ "Marijuana company Curaleaf looking for $4 billion valuation". Marijuana Business Daily. 14 September 2018.
  3. ^ Alpert, Bill (21 November 2018). "One of America's Richest Marijuana Companies Has Deep Russian Roots". Barron's.
  4. ^ Guzman, Zack (1 May 2019). "Curaleaf notches largest U.S. cannabis acquisition with nearly $1 billion deal". Yahoo Finance. Retrieved 11 September 2019.
  5. ^ "Cannabis giant Curaleaf to acquire Colorado edibles maker BlueKudu". The Denver Post. 2020-03-02. Retrieved 2020-03-18.
  6. ^ a b Davis, Katherine (17 July 2019). "Grassroots Cannabis to Be Acquired by Curaleaf for $875M". Chicago Inno.
  7. ^ a b "Curaleaf expands presence in New Jersey with new dispensary and cultivation facility". Curaleaf Holdings, Inc. Investor Relations. 24 June 2021.
  8. ^ a b Yakowicz, Will. "Inside Curaleaf Billionaire Boris Jordan's Hunger To Become The 'Frito-Lay' Of Cannabis". Forbes. Retrieved 2021-06-28.
  9. ^ "Curaleaf CEO: 2021 momentum points to a 'longer term trend' for cannabis". news.yahoo.com. Retrieved 2021-06-28.
  10. ^ "Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor". Curaleaf Holdings, Inc. Investor Relations. Retrieved 2021-06-28.
  11. ^ "Curaleaf to Acquire Colorado-based Los Sueños". Curaleaf Holdings, Inc. Investor Relations. Retrieved 2021-06-28.
  12. ^ "CURALEAF COMPLETES ACQUISITION OF EMMAC AND SECURES US$130 MILLION INVESTMENT FROM A SINGLE STRATEGIC INSTITUTIONAL INVESTOR". Bloomberg LP. Retrieved 11 September 2019.{{cite web}}: CS1 maint: url-status (link)

External links[]

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