Curaleaf Closes $700 Million Grassroots Deal, Expands Footprint To 23 StatesJuly 28, 2020
Wakefield, Massachusetts-based Curaleaf has completed its acquisition of Grassroots Cannabis, giving it a presence in 23 states with more than 135 dispensary licenses and 88 operational retail locations. The deal, originally announced last July, was initially valued at $875 million before being revised to account for the selloff of certain Grassroots assets across three states, bringing it closer to $700 million.
With the transaction completed, Curaleaf now says it’s the world’s largest cannabis company by revenue and the most diversified vertically integrated cannabis company in the U.S. In addition to retail, the combined company operates 22 cultivation sites and 30 processing facilities. Grassroots co-founder and CEO Mitchell Kahn has joined Curaleaf’s board.—Danny SullivanSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning. You will also receive the Cannabis edition as part of your subscription.