Curaleaf mentioned Wednesday it would purchase cannabis oil firm Cura Companions for $1 billion, the most important acquisition so far within the authorized marijuana business and an indication of how rapidly the budding sector is maturing.
Mixed, the businesses generated complete income of about $200 million final 12 months. That will make it the most important cannabis firm within the U.S., surpassing rivals like Trulieve Hashish, which had $139 million in income final 12 months. The acquisition is predicted to shut later this 12 months.
The merger will give Massachusetts-based Curaleaf entry into the West Coast, the place Portland, Oregon-based Cura Companions dominates with about 900 retailers promoting its “Choose” model of cannabis oil. Roughly half its retailers are in California, a key cannabis market, in response to Russell Stanley, an analyst at Beacon Securities who covers Curaleaf.
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