"They went off on these programs, and we're going to give these assets to felons and people that have two heads and all this kind of stuff," says Curaleaf Executive Chairman Boris Jordan.
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.
Curaleaf To Enter Europe After Closing $310M EMMAC Acquisition, $130M Financing Benzinga 6 hrs ago
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.
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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.
Mar 12, 2021 09:10 pm
By Chloe Aiello
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U.S. cannabis company Curaleaf agreed to acquire London-based Emmac Life Sciences in a $286 million deal that represents the company’s first step into the burgeoning European cannabis market.
“We think, although the market is just emerging, it s the addressable opportunity in Europe could actually be bigger than the addressable opportunity in the U.S., and this gives us an unparalleled platform to be able to build on,” Curaleaf CEO Joe Bayern told Cheddar.
The cash and stock transaction is expected to close early in the second quarter of 2021.
Cannabis multistate operator Curaleaf already has a substantial presence across the U.S. market. Following its $830 million acquisition of Grassroots Cannabis, which closed in July, the company has a footprint across 23 U.S. states including Arizona and New Jersey, where voters recently approved adult-use legalization. The Emmac acquisition grants Curaleaf access to the expanding Euro