Curaleaf Holdings, Inc. CURLF CURA revealed that Curaleaf International Holdings Limited, the company's European holding company, has signed a definitive agreement to acquire a 55% stake in Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis with its own product line.
The partnership creates a strategic pathway for Curaleaf to acquire complete control of Four 20 Pharma within two years of the commencement of adult use in Germany.
Boris Jordan, Curaleaf executive chairman, stated, "By partnering with Four20 Pharma, Curaleaf's European business will immediately gain additional critical mass and be in a superior position to capitalize on the accelerating trends in the European cannabis market. The opportunity in Europe cannot be understated, and Curaleaf is uniquely differentiated from other U.S. MSOs via our already significant presence as the largest and most licensed cannabis company in Europe. With cultivation facilities in Portugal, manufacturing facilities in Spain and UK, rapidly growing patient numbers across Europe, particularly in the UK, Curaleaf serves the entire legal cannabis ecosystem and is also poised to capitalize on the adult use opportunity as regulation starts to unlock. This strategic transaction further underscores our aspiration to be the major player in the European market and the leading global cannabis company."
Torsten Greif, managing partner of Four 20 Pharma, stated, "We have been exploring possible partners to stake our claim in the future German and European cannabis markets, and in Curaleaf we know we've found the undisputed leader and the best partner. From the beginning of our conversations, it was clear that they supported our strategic vision and respected our autonomy and entrepreneurial approach. Having full access to the tremendous knowledge and assets of the Curaleaf team will accelerate our future growth projects and help drive our company to the next level."
Photo: Benzinga; Sources: courtesy of geralt, lindsayfox via Pixabay
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