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Curaleaf Closes Acquisition Of BlueKudu

Curaleaf Closes Acquisition Of BlueKudu

Cannabis operator Curaleaf Holdings Inc. (CSE: CURA) (OTCQX: CURLF) has finalized the previously announced acquisition of Virginia's Kitchen.

MED Colorado approved Curaleaf's purchase of the Colorado-based manufacturer of cannabis edibles, the company disclosed Friday.

Under the acquisition deal, Curaleaf will operate an 8,400-square-foot, Denver-based infusion kitchen, and processing facility.

Virginia's Kitchen, which does business as BlueKudu, specializes in handcrafted adult-use recreational and medical cannabis products. This includes gummies, chocolates, bonbons, and baked goods.

In addition, the company boasted it has sold over one million chocolate bars.

Curaleaf CEO Joseph Lusardi said the acquisition "expands Curaleaf's cannabis offerings in the key Colorado market."

"By fusing BlueKudu's manufacturing capabilities and statewide dispensary relationships with Curaleaf's Select portfolio of adult-use cannabis offerings, we will expand consumer choice in Colorado," continued Lusardi.

Curaleaf employs over 2,200 people across 18 states. It operates 57 dispensaries, five cultivation, and 24 processing sites.

The company recently announced it has expanded its Select brand's footprint in Maine, Massachusetts, Ohio, and Florida.

According to the Colorado Department of Revenue data, the state's cannabis shops witnessed sales soaring in 2019, which resulted in joint revenue of nearly $1.75 billion.

Moreover, marijuana taxes, license, and fee revenue amounted to $300 million in the same year.

Meantime, Colorado dispensaries saw marijuana sales grown substantially during the COVID-19 pandemic, reporting an increase of 57%.

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