Curaleaf Holdings Inc (OTCMKTS: CURLF) has completed the acquisition of the most enormous outdoor grow in Colorado, Los Sueños Farms and entities associated with it. The founder of Los Sueños, Bob Gabrielle, will be in charge of Curaleaf’s wholesale and retail sector while overseeing Los Sueños operations.
The acquisition will accelerate growth for Curaleaf
According to the Executive Chairman of Curaleaf, Boris Jordan, the vertical integration of Curaleaf in the state will be instrumental in strengthening its presence in Colorado. The state is the second-largest cannabis marketplace in the U.S.
The acquisition also provides the company with an affordable, efficient, and high-quality supply of biomass to support customers in the state. This move will be even more beneficial if interstate trade is allowed.
The acquisition of the Los Sueños Farms has brought the company three outdoor cannabis grow facilities in Pueblo, Colorado. These facilities occupy 66 acres of cultivation capacity consisting of equipment, land, two adult-use cannabis stores, and 1800 plant in dire grow.
According to the CEO of Curaleaf, Joseph Bayern, the acquisition increases its cultivation capacity and will enable it to achieve fast growth in the state. Curaleaf also plans to take advantage of Los Sueños expertise to improve cultivation technology and reduce the cost of production.
Products offered by Curaleaf
Curaleaf is a leading cannabis company with a goal to provide more information to customers on cannabis use and also increase confidence in the practice. It produces high quality medical and adult-use cannabis products under its brands Select, UKU, Grassroots, and Curaleaf. Its products come in various oil-based formulations like the ground flower, capsules, tinctures, and cartridges. It also offers hemp-based CBD products.
The company had more than 30 processing sites, 22 cultivation sites, and 109 dispensaries operating in 23 states in the U.S. It has more than 5000 employees who provide its services to thousands of customers every year.
Curaleaf also has operations in Europe. It is a leading vertically integrated company in the continent. It had its headquarters in Wakefield, Massachusetts. Curaleaf runs two different segments, that is, the Non-cannabis and Cannabis operations. Cannabis operations deal with the production and sale of cannabis, while the non-cannabis segments focus on offering services to third parties that hold adult-use cannabis licenses.
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