Curaleaf Holdings, Inc. (CSE:CURA) (OTCQX:CURLF) has purchased EMMAC Life Sciences
The Wakefield, Massachusetts-based company said Wednesday it has completed the previously announced acquisition of one of the largest cannabis companies in Europe.
Transaction Details: Under the deal, Curaleaf agreed to pay $50 million in cash and 17.5 million in stock — worth roughly $260 million. The company plans to pay additional consideration to EMMAC stakeholders upon the achievement of particular performance milestones.
To boost its European footprint further, while holding its EMMAC investment, Curaleaf has created Curaleaf International Holdings Limited on the island of Guernsey.
In addition, the company has teamed up with an institutional investor to secure $130 million in financing for further expansion of Curaleaf International. The new investment brings Curaleaf International to a $413 million post-money valuation, with $80 million in cash.