Curaleaf Closes $1.1 Billion Acquisition of Grassroots

Curaleaf Holdings (CSE: CURA) announced this morning that it has finally completed its acquisition of GR Companies, operating as Grassroots, which the firm claims creates the largest cannabis operating in the United States. The transaction was completed as of this morning, July 23.

The completion of the transaction increases Curaleaf’s operations from 18 to 23 US states. Further, the company now owns 135 dispensary licenses, of which only 88 are operational, along with 30 processing facilities and 22 cultivation sites. The expanded footprint is said to increase their exposure to more than two thirds of the US population.

With the close of the transaction, Curaleaf also claims that it will have a leading presence in approximately 13 markets overall, including Illinois and Pennsylvania. However, numerous assets are in the status of being “in transfer”, such as the retail assets within Illinois. This is largely the function of restrictions in terms of hold periods, as well as the simple fact of dealing with government bureaucracy.

In connection with the completion of the transaction, which cost shareholder of the company dilution to the tune of nearly 119 million shares, Michael Kahn, co-founder and CEO of Grassroots, has been appointed to the Board of Directors of Curaleaf.

Curaleaf Holdings last traded at $9.59 per share on the CSE, placing the value of the transaction at roughly $1.1 billion.


Information for this briefing was found via Sedar and Curaleaf Holdings. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Curaleaf: The Analyst Take On The European Expansion

On April 7th, Curaleaf Holdings (CSE: CURA) announced that they completed $312 million acquisition of...

Friday, April 9, 2021, 11:46:00 AM

Curaleaf Sees Consensus Estimates Stay Flat After Q1 Results

Curaleaf Holdings (CSE: CURA) reported its first-quarter results on May 10th, beating the consensus estimates...

Saturday, May 15, 2021, 04:24:00 PM

US Cannabis: The Current Landscape

Welcome to the Deep Dive Video Essay Series. Today we are looking at US Cannabis....

Saturday, March 6, 2021, 09:00:00 AM

Curaleaf Closes European Transaction, Immediately Sells 31.5% Stake To Undisclosed Strategic Investor

Curaleaf Holdings (CSE: CURA) this morning announced the completion of EMMAC Life Sciences, a vertically...

Wednesday, April 7, 2021, 08:38:43 AM

Curaleaf Amends Terms of Select Brand Acquisition

Curaleaf Holdings (CSE: CURA) announced this morning that certain terms and conditions have changed related...

Wednesday, October 30, 2019, 08:58:09 AM