 Curaleaf is continuing it’s efforts to secure a spot as the largest cannabis company in the world.
They already have operations in 22 U.S. states, as well as five European countries including the United Kingdom, Germany, Italy, Spain and Portugal. And now, the company has just announced that it’s European holding company has invested $20 million dollars in another German medical cannabis producer and distributor called Four 20 Pharma GmbH. The deal will give Curaleaf the majority 55% of the company’s control. The deal will also allow Curaleaf to aquire complete control within 2 years of Germany legalizing adult use cannabis sales. That move is expected to happen soon. After Germany’s latest elections, last fall, the new ruling coalition announced their plans to legalize adult use cannabis as soon as possible, and are working on a regulatory framework now. The President of Curaleaf International, Miles Worne, said Four 20 Pharma is an already established, trusted, and loved medical cannabis brand. He added, “Four 20 Pharma is uniquely positioned to capitalize on Germany’s conversion from a medical to an adult use market.” Curaleaf CEO Boris Jordan said, “By partnering with Four 20 Pharma, Curaleaf’s European business will immediately gain additional critical mass and be in a superior position to capitalize on the accelerating trends in the European cannabis market.” Jordan also said this deal, “underscores our aspiration to be the major player in the European market and the leading global cannabis company.” Curaleaf’s deal to acquire a majority stake in Four 20 Pharma, which is subject to regulatory approval and other conditions, is expected to close within the next two months. Comments are closed.
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