Curaleaf Is Buying Cannabis Oils Brand Name for $949 Million
May 2, 2019 by erfa5t8
Curaleaf, a leading vertically integrated cannabis operator in the U.S., has signed a definitive arrangement to acquire the marijuana service of Cura Partners, Inc., owners of the brand Select (Select Oil and Select CBD), in an all-stock deal valued at $948.8 million.
The acquisition includes Select’s manufacturing, processing, circulation, marketing and selling operations and all adult-use cannabis items marketed under the Select trademark name, consisting of all intellectual property.
Based in Portland, Oregon, Cura’s Select is one of the most well-known cannabis wholesale brands in the nation. Its THC products are sold in more than 900 retailers, making it a leading marijuana brand name in key Western states, consisting of Arizona, California, Nevada and Oregon.
” The transformational acquisition of Cura and the Select brand name is another action in our journey to produce the most accessible marijuana brands in the U.S.,” stated Joseph Lusardi, CEO of Curaleaf. “The combination of Curaleaf and Select is a best fit. With our industry leading capability, expansive retail distribution network and Select’s remarkable sales and marketing abilities, we mean to meaningfully accelerate our topline development trajectory with the addition of the Select Oil product variety.”
Cura is recognized as having among the best employee cultures in the industry. In 2018, Cura was called as one of the “Top 100 Companies to Work For” in Oregon by Oregon Organisation Publication and put No. 12 in the Large Business category. In 2019, Cura won the award once again demonstrating Cura’s ability to focus on its culture while growing its headcount by 400%.
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