Curaleaf Closes US$211 Cash Purchase Of Bloom Dispensaries

Curaleaf Holdings (CSE: CURA) has completed its previously announced US$211 million acquisition of Bloom Dispensaries. The acquisition significantly expands the firms footprint in the state of Arizona.

Branded as a single state operator, Bloom Dispensaries operates four retail locations across Arizona, in the cities of Phoenix, Peoria, Sedona, and Tucson. The firm also has two cultivation and processing facilities in the state, covering 63,500 square feet of space.

The company reportedly saw 2021 revenue of US$66 million, while EBITDA margins are “more than 40%.”

Consideration consists of US$211 million, consisting of largely cash. The firm issued $51 million in cash upon closing, with the remaining figure to be settled via three promissory notes, valued at $50 million, $50 million, and $60 million, due respectively in one, two, and three years.

Upon closing, Curaleaf will have 13 dispensaries in the state of Arizona, and 121 total dispensaries across the country.

Curaleaf Holdings last traded at $10.33 on the CSE.

Information for this briefing was found via Sedar and Refinitiv. 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.

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