Curaleaf Holdings Inc (OTCMKTS:CURLF) has been a leading and multi-state cannabis operator. Over the years, the company has sustained its mission and commitment to improving lives through reliable and high-quality products. The company has made a positive impact across many states in the United States, including Arizona, Nevada, California, and Oregon.
Curaleaf’s expansion plans of its line of Select brand products
The marijuana operator has its presence in 17 states with 15 cultivation sites and 57 dispensaries. During the COVID-19 outbreak, only the essential services businesses had the permit to operate as all the others closed down. Cannabis businesses were classified as essential services. This allowed Curaleaf to plan an expansion of its line of Select brand products.
The company’s first location of expansion will be Connecticut, according to the President of Curaleaf, Joe Bayern. He says, “We are committed to providing essential medicine to over 40,000 patients in Connecticut with consistent, high-quality Select products.”
Select products include Select Elite Live cartridges, cannabis gummies, CBD oil, radio drop, and are formulated with strain-specific terpenes to enrich their flavor. They will be available at local medical dispensaries across Connecticut. Bayern adds that they will be suggesting to the lawmakers the need for including chronic pain and Ehlers-Danlos Syndrome to the list of MMP licensed conditions.
The revision of a deal by Curaleaf Holdings to acquire Grassroots Cannabis
Acquisitions, collaborations, and partnerships are primarily the key drivers to growth. Before acquiring Select brands, Curaleaf was already pursuing an amendment to an agreement it had entered earlier with Grassroots.
The original deal was going to include US$75 million in cash. However, this has since been amended and will include an increased share component from $40 million to $90.1 million. The updated deal has also unveiled plans to sell off unspecified Grassroots assets in Maryland, Illinois, and Ohio. The sale of the assets is likely to fetch between $100 million and $150 million.
The completion of the merger will turn Curaleaf into the world’s largest cannabis company by revenue. Operational dispensaries and processing facilities will also increase, which means increased accessibility of its products.