Curaleaf Holdings Closes Select Acquisition, Expands Executive Team
Curaleaf Holdings Inc (CSE: CURA) has announced it has completed the acquisition of Select, which is a brand owned by Cura Partners Inc. In addition, Curaleaf has also expanded its management, with the appointment of several new executive members.
On February 1, 2020, Curaleaf finalized the acquisition of Select, which also grants the company full ownership of Select’s intellectual property, manufacturing, sales operations, distribution, as well as marketing. This acquisition now puts Curaleaf in a position as one of the biggest cannabis producers in terms of wholesale and operations in the United States.
Following the finalization of the purchase, Cameron Forni, the founder of Select, will be taking on the position as the President of Curaleaf’s new brand, and will predominantly concentrate on ensuring that Select experiences growth as well as emergence into new markets.
Curaleaf also created a new position for Jason White as the Chief Marketing Officer. In this position, Jason will concentrate on ensuring that Curaleaf’s brand and marketing strategy is expanded upon. Jason was previously a brand marketer with Select, and prior to that he held positions with Nike and Beats by Dr. Dre.
Curaleaf also promoted its Chief Financial Officer, Neil Davidson to Chief Operating Officer. In his new position, Neil’s responsibilities will include managing the firm’s manufacturing, cultivation, and processing potential, as well as increasing efficiencies and growth. Stuart Wilcox, who previously held the position of Chief Operating Officer, will take on a new role which concentrates on expanding business into emerging markets.
The position of Chief Financial Officer will be assumed by Michael Carlotti, who is joining the Curaleaf executive team from a previously-held position with a cannabis company from Nevada. Michael also held several high-profile positions in his career, including the Senior Vice President of MGM Resorts International. In his new role, Michael will be overseeing the firm’s investor relations, capital markets, treasury, M&A, and finances.
The position of Senior Vice President of Sales has been appointed to Mark Russ, who will now lead the national sales of the company’s brands. Mark previously held positions with previous cannabis companies, as well as Red Bull North America.
Dr. Steven Patierno’s position with the Board of Directors will be replaced by Dr. Jaswinder Grover. Dr. Grover has over 25 years of experience as a spine surgeon and orthopedic, and he is also the developer and founder of several surgical and interventional care centers including the Allegiant Institute, the Smoke Ranch Surgery Center, as well as the Center for Special Injury, Joint Commission.
Curaleaf is an American Cannabis operator, concentrating on providing products for both the adult-use and medical markets through its brands, Curaleaf and Select.
Curaleaf Holdings Inc is currently trading at $9.43 on the CSE.
Information for this briefing was found via Sedar and Curaleaf Holdings Inc. 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.