Curaleaf Holdings – a US cannabis company with over 100 pharmacies in 23 states – has secured a secure position in the European marijuana market with the acquisition of EMMAC Life Sciences Limited, valued at $ 286 million.
Weed Giant Curaleaf to acquire London-based medical marijuana company EMMAC
On Tuesday March 9th, Curaleaf Holdings announced that it had signed an agreement to acquire EMMAC Life Sciences Limited for nearly $ 286 million – 85% in Curaleaf stock and 15% in cash.
The acquisition gives Curaleaf a defined lead over other US operators in the European cannabis market. Joseph Bayern, CEO of Curaleaf, said the agreement “marks a milestone as Curaleaf will immediately become the US multi-state operator with the largest European footprint. Our acquisition of EMMAC provides a strong platform for the future launch of our brands Curaleaf and Select in the European market. It leverages all of our innovations in science, research and development, formulated products and form factors, as well as extensive consumer insights gained through our experience Leadership in the United States ”
Before the news of the company’s involvement in EMMAC was known, Curaleaf was already considered the leading cannabis operator in the United States. In recent years, the company has established itself as a vertically integrated cannabis company with roots planted from coast to coast. The Massachusetts-based company manages 22 acreage, 30 processing facilities, and over 100 pharmacies across the country. Despite this large reach, the recent acquisition of Curaleaf significantly expands the operator’s influence.
The Impact of the Curaleaf Acquisition
Curaleaf Chief Executive Officer Boris Jordan said, “The acquisition of EMMAC by Curaleaf. . . provides a progressive base to enter the emerging European cannabis market and make Curaleaf a truly international cannabis consumer products company. The consumer and political liberalization trends surrounding cannabis in the USA are increasingly affecting Europe as well. “However, the strategic acquisition of EMMAC was not only based on mirrored market trends.
EMMAC Life Sciences Limited is the largest vertically integrated marijuana company in Europe and operates in some of the continent’s most notable medical cannabis markets – including the UK, Italy, Spain, Portugal and Germany.
More importantly, however, EMMAC has a world-class management team ready to capitalize on a possible shift in the European cannabis market. Many industry experts anticipate more consumer-centric recreation in the near future, and EMMAC CEO Antonio Costanzo believes the new business couple is poised to tackle change.
“The acquisition of EMMAC by Curaleaf is not only an important milestone for EMMAC, but for the entire European cannabis market. As part of Curaleaf, a well-capitalized leader in the US cannabis market, EMMAC is poised to capitalize on the rapid pace of growth in the European market driven by regulatory changes and increasing demand for access to quality cannabis products. The combination of Curaleaf and EMMAC creates a global platform to take advantage of these great new opportunities across Europe, ”said Costanzo.
In addition to the eight countries where EMMAC already has a strong presence, there are operations or partnerships in several EU countries for which new medical cannabis plans are under development. Ultimately, Boris Jordan believes that “the European cannabis market has the potential to outperform the US cannabis market in the long term and will drive our growth in the years to come.”
At The Weed Blog, we strive to produce the latest online marijuana news sources. We also review different strains of cannabis or other edible counterparts. We want to help you find valuable information about marijuana on our website. Learn from us what you can do to promote activism in your area as marijuana laws are constantly changing. Otherwise, consider these other top notch cannabis items:
Past marijuana use will not be deterred against immigrants with the proposed bill
Oklahoma’s dispensary licenses are falling for the first time since the medical cannabis market opened
States after income tax receipts for marijuana