Curaleaf: Difference between revisions
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| type = [[Public company|Public]] |
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| industry = [[Cannabis industry]] |
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Revision as of 18:02, 11 April 2023
 | This article reads like a press release or a news article and may be largely based on routine coverage. (September 2021) |
 | |
| Company type | Public |
|---|---|
| OTCQX: CURLF | |
| Industry | Cannabis industry |
| Founded | 2010 |
| Headquarters | |
Key people | Boris Jordan, Executive Chairman Matt Darin, CEO Joseph Bayern, Vice Chairman |
| Website | curaleaf |
Curaleaf Holdings, Inc. is an American cannabis company publicly traded on the Canadian stock exchange. The company is headquartered in Wakefield, Massachusetts. Founded in 2010, it produces and distributes cannabis products in North America, operating dispensaries in 23 states. The company is headquartered in Wakefield, Massachusetts, and is the world's largest cannabis company by revenue.
History
Curaleaf was founded in 2010 under the name PalliaTech.[1] It operated in New Jersey and had a research center in Colorado. In 2013, the investment group Sputnik purchased a 35% stake in the company.[2] The company name was changed to Curaleaf in 2018,[3] just prior to going public on Toronto's Canadian Securities Exchange under the symbol CURA.[4] It also raised $400 million in what was considered the largest stock offering in cannabis industry history.[5]
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.[6] The following year it acquired Colorado based edibles maker BlueKudu, which is known for its infused chocolates and gummies.[7] In 2020, Curaleaf became the world's largest cannabis company by revenue after the purchase of its Chicago-based competitor Grassroots Cannabis.[8] The purchase also expanded the company into 23 states in the U.S.[9]
In January 2021, Joseph Bayern, previously the president of Curaleaf, became its CEO.[9][10]
In April 2021, Curaleaf announced that it had completed its previously announced acquisition of EMMAC Life Sciences Limited ("EMMAC"), the largest vertically integrated independent cannabis company in Europe. The acquisition gives Curaleaf cultivation, EU GMP-certified processing, distribution, and R&D operations in several key European cannabis markets, including the United Kingdom, Germany, Italy, Spain and Portugal.[11]
In May 2021, Curaleaf announced it had signed a definitive agreement to acquire Los Sueños Farms, a 36-acre outdoor marijuana growing operation in Colorado, for over $60 million.[12]
In September 2021, an Oregon subsidiary of the company, Cura Cannabis, mistakenly distributed tinctures with THC that were mislabeled as containing only CBD. This led to a recall by The Oregon Liquor and Cannabis Commission (OLCC).[13]
In August 2022 Curaleaf was forced to remove thousands of medical marijuana products from New York dispensaries for misleading customers into believing the potency of the products was higher than it was by using an unauthorized labeling method.[14]
References
- ^ Wood, Sam. "Marijuana company Curaleaf, valued at $4 billion, has big plans with Penn Medicine for King of Prussia". Retrieved 2022-03-17.
- ^ "Jordan Buys Into New Medicine". The Moscow Times. 31 July 2013.
- ^ Borchardt, Jackie. "Curaleaf gives up Ohio medical marijuana license for Clermont County facility". The Enquirer. Retrieved 2022-02-14.
- ^ "Marijuana company Curaleaf looking for $4 billion valuation". Marijuana Business Daily. 14 September 2018.
- ^ Alpert, Bill (21 November 2018). "One of America's Richest Marijuana Companies Has Deep Russian Roots". Barron's.
- ^ Guzman, Zack (1 May 2019). "Curaleaf notches largest U.S. cannabis acquisition with nearly $1 billion deal". Yahoo Finance. Retrieved 11 September 2019.
- ^ "Cannabis giant Curaleaf to acquire Colorado edibles maker BlueKudu". The Denver Post. 2020-03-02. Retrieved 2020-03-18.
- ^ Davis, Katherine (17 July 2019). "Grassroots Cannabis to Be Acquired by Curaleaf for $875M". Chicago Inno.
- ^ a b Yakowicz, Will. "Inside Curaleaf Billionaire Boris Jordan's Hunger To Become The 'Frito-Lay' Of Cannabis". Forbes. Retrieved 2021-06-28.
- ^ "Curaleaf CEO: 2021 momentum points to a 'longer term trend' for cannabis". Yahoo! Finance. May 11, 2021. Retrieved 2021-06-28.
- ^ "Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor". Curaleaf Holdings, Inc. Investor Relations. Retrieved 2021-06-28.
- ^ Bahcetepe, Hilal. "Southern Colorado Marijuana Farms Have New Ownership". Westword. Retrieved 2022-02-14.
- ^ Staff, MJBizDaily (2021-09-30). "CBD labeling mix-up leads to Oregon recall, lawsuit over THC in tinctures". MJBizDaily. Retrieved 2022-02-14.
- ^ Racino, Brad (2022-08-12). "Curaleaf forced to remove thousands of medical marijuana products from NY dispensaries". Syracuse.com. Retrieved 2022-08-21.
External links
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