Leading West Coast Cannabis Oil Manufacturer ~ All-Stock Deal Close to $1 Billion
“The combination of Curaleaf and Select is a perfect fit,” Curaleaf CEO Joe Lusardi said in a statement. “With our industry leading capacity, expansive retail distribution network and Select’s impressive sales and marketing capabilities, we intend to meaningfully accelerate our top line growth trajectory with the addition of the Select Oil product range.”
Massachusetts-based cannabis company Curaleaf Holdings announced Wednesday it agreed to purchase a leading West Coast cannabis oil manufacturer, Cura Partners, in an all-stock deal valued at about $950 million.
Curaleaf’s move to acquire Cura Partners, which owns Select, the leading cannabis brand in California, Nevada and Oregon, according to independent market analytics, marks the largest deal based on dollar value so far between U.S. cannabis operators. The companies also stressed it will combine Curaleaf’s East Coast footprint with a West Coast-focused Cura Partners to create the largest U.S. cannabis company by market cap and combined 2018 sales.