Curaleaf Holdings, Inc., a Massachusetts-based cannabis company with operations in multiple states has revealed the details of a deal to acquire Portland, Oregon-based Cura Partners, Inc.
Cura is the owner of the popular Select cannabis oil brand which is sold by more than 900 retailers in legal states including California, Nevada, Oregon, and Arizona.
On Wednesday, Curaleaf announced the agreement, which includes the acquisition of Select’s manufacturing, processing, distribution, marketing, and retail operations in a $945.8 million all-stock transaction.
“The transformational acquisition of Cura and the Select brand is another step in our journey to create the most accessible cannabis brands in the U.S.,” said Curaleaf CEO. “We look forward to welcoming the talented Select team who will bring superior brand marketing expertise and a culture of innovation in technology and product development.”
Cura CEO, Cameron Forni says that the joining of two leading cannabis companies from the east and west coasts will help progress legalization and mainstream acceptance across the country.
Based in Wakefield Massachusetts, Curaleaf currently operates 44 dispensaries, 12 cultivation sites, and 11 processing sites in 12 states.