Curaleaf Makes 2 More Phoenix Arizona Acquisitions

Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) released news this morning announcing the acquisition of 2 more cannabis businesses. Curaleaf paid a total of $25.5 million for the 2 separate Arizona based companies. The deals will give Curaleaf a leading retail footprint in the Phoenix Metro area.

The first company being acquired by Curaleaf is a vertically integrated cultivation and processing facility called Glendale Greenhouse. The company is also acquiring a prime retail location and have plans to rebrand it as Curaleaf once the deal officially closes.

Glendale Greenhouse:

Cannabis cultivation and processing facility.
20,000 sq ft with a multi-level cultivation center.
- Cultivation center is capable of producing 3,600 lbs of flower yearly.
Included is a 1,500 sq ft dispensary that can be expanded to roughly 5,000 sqft
- The dispensary is located directly off the Agua Fria Freeway.
  - 90,000 cars pass the dispensary every day.
Holds a master lease on the 15,000 sq ft multi-tenant building where the dispensary is located.
Operates a state-of-the-art CO2 extraction lab complete and kitchen.
- Already producing multiple lines of edibles.
  - Gummies, brownies, and ice cream.
    - Plans to launch more products this year.

Curaleaf has also agreed to acquire Phytotherapeutics Management Services LLC. Phytotherapeutics operates under the license of Phytotherapeutics of Tucson LLC. Once this deal closes the license associated with the dispensary will be applied to a newly developed, flagship dispensary located in Phoenix.

Source: Shutterstock

New Phoenix Flagship Dispensary:

Located at 2175 N 83^rd Ave.
Located in the exciting Phoenix metro submarket.
Nearby access to the I-10 Freeway.
Located right near the nationally recognized and popular outdoor amphitheater and concert stadium Ak-Chin Pavilion.
Will be Curaleaf’s 8th dispensary in Arizona.
- All located in Maricopa County.
- The US Census Bureau states that Maricopa County is the fastest growing county in the USA for the third year in a row.

“The acquisition of both Glendale Greenhouse and the opening of our 83^rd Avenue location demonstrates our commitment to the Arizona market and to providing consumers with reliable and high-quality cannabis experience,” said Joseph Lusardi, Chief Executive Officer. “This transaction not only strengthens our position with the seventh and eighth Curaleaf branded dispensaries in the fast-growth Phoenix metro market, but greatly enhances our processing capabilities and accelerates our plans to produce and distribute wholesale products in the state.”

Curaleaf is paying $25.5 million for both acquisitions. $22 million in cash and $3.5 million in stock.

Investors looking for additional information on Curaleaf are encouraged to visit the company’s website here.

Additional investor due diligence links: Curaleaf IR Website & Curaleaf Investor Deck

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About Curaleaf Holdings:

Curaleaf Holdings (CSE: CURA) (OTCQX: CURLF) is the leading vertically integrated multi-state cannabis operator in the United States. It is a high-growth cannabis company with a national brand known for quality, trust and reliability. The company is positioned in highly populated, limited license states, and currently operates in 12 states with 47 dispensaries, 13 cultivation sites and 12 processing sites. Curaleaf has the executive expertise and research and development capabilities to provide leading service, selection, and accessibility across the medical and adult-use markets, as well as in the CBD category through its Curaleaf Hemp brand and Bido brand for pets.

Read the full Curaleaf press release