A PYMNTS Company

US: Marijuana merger creates world largest dealer

By  |  May 1, 2019

Curaleaf Holdings said on Wednesday it would buy Cura Partners Inc’s Select brand in an all-stock deal valued at $948 million to create the world’s largest cannabis company by revenue.

The deal is expected to expand the company’s presence on the US West coast, while adding Select-branded weed oil to its portfolio of vape oils, topical lotions, capsules, mints and lozenges.

The pot industry has seen a string of deals in recent months as companies look to boost the scale of their operations in the United States, with the recreational use of cannabis now legal in 10 states and the District of Columbia and medical marijuana legal in 23 states.

“This acquisition firmly establishes us not only as the largest US cannabis company by market cap but also as the largest cannabis company globally on a revenue basis,” Curaleaf Executive Chairman Boris Jordan said on a conference call.

Full Content: Reuters

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