Curaleaf

Curaleaf Holdings, Inc. is an American cannabis company, listed on the Canadian stock exchange. Founded by Russian billionaire Boris Jordan, Curaleaf engages in the production and distribution of cannabis products across North America, operating dispensaries in 23 states. The company is headquartered in Wakefield, Massachusetts, and is the world's largest cannabis company by revenue.

Curaleaf
TypePublic
IndustryCannabis industry
Founded2010
Headquarters
Wakefield, Massachusetts
Key people
Boris Jordan, Chairman
Joseph Lusardi, CEO
Websitecuraleaf.com

History

Curaleaf was founded in 2010 under the name PalliaTech. It operated in New Jersey and had a research center in Colorado. In 2013, the investment group Sputnik along with its CEO Boris Jordan took a 35 percent stake in the company.[1] The company name was changed to Curaleaf in 2018, just prior to going public on Toronto's Canadian Securities Exchange under the symbol CURA.[2] It also raised $400 million in what was considered the largest stock offering in cannabis industry history.[3]

Curaleaf has made several acquisitions in the cannabis industry. It acquired the cannabis oil brand Select in 2019, making it the largest cannabis operator in the United States.[4] The following year it acquired Colorado based edibles maker BlueKudu, which is known for its infused chocolates and gummies.[5]

In 2020, Curaleaf became the world's largest cannabis company by revenue after the purchase of its Chicago-based competitor Grassroots Cannabis.[6] The purchase also expanded the company into 23 states in the U.S.[7]

Operations

Curaleaf "engages in the production and distribution of cannabis products" across North America.[8] As of 2020 it operates dispensaries in 23 states.[6] As of 2020, the company has affiliated operations that cover over 135 dispensary licenses, 88 operational dispensary locations, over 30 processing facilities, and 22 cultivation sites with 1.6 million square feet of current cultivation capacity.[7]

References
  1. "Jordan Buys Into New Medicine". The Moscow Times. 31 July 2013.
  2. "Marijuana company Curaleaf looking for $4 billion valuation". Marijuana Business Daily. 14 September 2018.
  3. Alpert, Bill (21 November 2018). "One of America's Richest Marijuana Companies Has Deep Russian Roots". Barron's.
  4. Guzman, Zack (1 May 2019). "Curaleaf notches largest U.S. cannabis acquisition with nearly $1 billion deal". Yahoo Finance. Retrieved 11 September 2019.
  5. "Cannabis giant Curaleaf to acquire Colorado edibles maker BlueKudu". The Denver Post. 2020-03-02. Retrieved 2020-03-18.
  6. Davis, Katherine (17 July 2019). "Grassroots Cannabis to Be Acquired by Curaleaf for $875M". Chicago Inno.
  7. "Curaleaf finalizes Grassroots deal, grows marijuana footprint to 23 states". Marijuana Business Daily. 23 July 2020.
  8. "CURA:CN, Curaleaf Holdings Inc". Bloomberg LP. Retrieved 11 September 2019.
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