The agreement reinforces the presence of Curaleaf and strengthens the strategic advantage in Europe Biggest market as Germany gears up for adult use
WAKEFIELD, Mass., August 9, 2022 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading U.S. provider of consumer cannabis products, announced today Today, 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 medical cannabis producer and distributor with its own line of products.
The unique partnership creates a strategic path for Curaleaf to gain full control of Four 20 Pharma within two years of the start of adult use in Germany and ensures alignment between Curaleaf and the current management team of Four 20 Pharma to quickly build a top German business and a solid platform for germany potential market for adult use. Germany is currently the largest medical cannabis market in Europewith a total addressable market of over €200 million in 2022 and expected to grow to nearly €1 billion by the end of 2024 via legalization of adult use, which is expected to begin in late 2023 or early 2024.
Four 20 Pharma is one of the largest cannabis operators in Germany, with a market share of more than 10%. Since its inception, Four 20 Pharma has focused on bringing top quality flowers to market.
Boris JordanExecutive Chairman of Curaleaf, said: “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. Europe cannot be underestimated, and Curaleaf uniquely differentiates itself from other US MSOs with our already significant presence as the largest and most licensed cannabis company in Europe. With cultivation facilities in Portugalmanufacturing facilities at Spain and in the UK, the rapidly growing number of patients across Europe, particularly in the UK, Curaleaf serves the entire legal cannabis ecosystem and is also poised to capitalize on the opportunity for adult use as regulations begin to unwind. This strategic transaction further underlines our aspiration to be the major player in the European market and the global leader in cannabis. »
Miles wornPresident of Curaleaf International, said: “Four 20 Pharma is a leading German distributor with a branded product that consumers love. They have captured a significant market share in Germany sourcing products from the best EU-GMP certified suppliers around the world and building strong connections with German medical consumers by providing the highest quality flower in an eponymous branded offering. Thus, Four 20 Pharma is in a unique position to capitalize on germany conversion from a medical market to an adult market and we are delighted to partner with their talented management team.”
Torsten Greifmanaging partner of Four 20 Pharma, said: “We have explored possible partners to claim our position in the future German and European cannabis markets, and in Curaleaf we know that we have found the undisputed leader and the best partner. From the start of our conversations, it was clear that they supported our strategic vision and respected our autonomy and our entrepreneurial approach. Having full access to the tremendous knowledge and strengths of the Curaleaf team will accelerate our future growth plans and help take our business to the next level. “
Thomas Schattonmanaging partner of Four 20 Pharma, added, “Curaleaf shares our values of customer dedication and commitment to product quality, and we are extremely excited about our future together. The Four 20 team is delighted to be able to leverage Curaleaf’s proven R&D expertise. to help us continue to provide the best quality products to our medical patients and to the promising future market of adult use.”
About Curaleaf Holdings
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading international provider of consumer cannabis products whose mission is to improve lives by bringing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for its quality, expertise and reliability, the Company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility in medical markets. and adults. In United States, Curaleaf currently operates in 22 states with 136 dispensaries, 26 cultivation sites and employs more than 5,700 team members. Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, combining pioneering science and research with state-of-the-art cultivation, extraction and production. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information, please visit https://ir.curaleaf.com.
About Four20 Pharma
Four 20 Pharma is one of Europe’s leading producers and distributors of medical cannabis, fully EU-GMP and GDP licensed, with industry-leading product quality and first-class regulatory expertise. Four 20 Pharma entered the German market with a vision to ensure continuous patient care, and since the 2020 launch of its “420NATURAL” brand, the company has created a stable supply chain to provide the best cannabis products. possible for his patients. The company employs 41 people and is based in Paderborn, Germany.
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “anticipates”, “expects” or “proposes”, “plans”, “intends” , “anticipates” or “believes”, or variations of these words and expressions, or by the use of words or expressions indicating that certain actions, events or results can, might, might occur or be achieved. More particularly and without limitation, this press release contains forward-looking statements and information regarding the acquisition of a controlling interest in Four 20 Pharma. Such forward-looking statements and information reflect the current beliefs of management and are based on assumptions made by and information currently available to the company with respect to the subject matter described in this new release. Forward-looking statements involve risks and s uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information on these assumptions and risks and uncertainties is contained in the “Risk Factors and Uncertainties” section of the Company’s most recently filed Annual Information Form. March 9, 2022which is available under the Company’s SEDAR profile at http://www.sedar.com, and in other filings the Company has made and may make in the future with applicable securities authorities. The forward-looking statements contained herein are made only as of the date of this press release, and we undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place significant reliance on any forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved of the contents of this press release.
Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc.
Tracy Bradysenior vice president of corporate communications
Four20 Pharma GmbH
SOURCE Curaleaf Holdings, Inc.