Curaleaf buys Cura Partners for $1 billion in record deal
In a record money deal for the industry, Curaleaf has announced that it will buy Portland, OR-based Cura Partners in a stock deal worth 1.27 billion Canadian dollars (or about $949 million US). Curaleaf recently made a deal with CVS to sell CBD products in those stores, and Cura Partners (though the names are similar, they’re not previously related) has been working on creating and selling great cannabis and CBD products in Oregon.
Curaleaf says that the all-stock transition will open up financial resources and “preserve financial flexibility to pursue additional M&A and other strategic opportunities.” In other words, Curaleaf isn’t done yet. It does feel like we’re on the cusp of a giant legal market emerging, as multiple bills are heading through Congress and lots of discussions are happening on state levels as well. Curaleaf is definitely setting itself up to grab a substantial part of that market, whenever it appears.