Curaleaf Continues To Make Meaningful Progress On Its Acquisition Strategy
WAKEFIELD, Mass., Aug. 19, 2019 /CNW/ -- Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced that it completed the acquisition of Glendale Greenhouse, a vertically integrated cannabis business in Arizona. The signing was announced earlier on June 27, 2019. The dispensary will be rebranded as Curaleaf.
Glendale Greenhouse operates a 20,000 square-foot, multi-level cultivation center capable of producing 3,600 pounds of flower annually. Its 1,500 square-foot dispensary, located directly off the Agua Fria Freeway with 90,000 cars passing daily, can be expanded to nearly 5,000 square-feet. The facility also operates a state-of-the-art CO2 extraction lab and a kitchen, which is already producing various edible lines such as mints, gummies, brownies and ice cream, with additional products expected to launch later this year.
Curaleaf has successfully completed three acquisitions in Arizona this year, increasing its operational footprint to 8 locations. With the largest footprint of single-branded retail stores in the U.S., Curaleaf continues to execute on its strategy of building a national brand in highly populated states. Earlier this year, the Company completed its acquisition of Eureka in California and continues to make considerable progress towards completion of the previously announced acquisitions of Acres in Nevada and OGT in Ohio, as well as Select and Grassroots.
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf" or "the Company") 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 48 dispensaries, 14 cultivation sites and 13 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 the CBD category through its Curaleaf Hemp brand.
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
Megan Bishop, SVP
Forward Looking Statements
Certain information provided in this press release include forward-looking statements that involve risks and uncertainties, including statements about our anticipated plans, objectives, expectations and intentions for the Glendale Greenhouse, Eureka, Acres, OGT, Select and Grassroots acquisitions which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements, including but not limited to the effect on our sales, operations and financial performance. The risks included above are not exhaustive. Other factors that could adversely affect our business and prospects are set forth in our public filings with the Canadian Securities Exchange. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release.
SOURCE Curaleaf Holdings, Inc.