Curaleaf now biggest cannabis company

Published on July 19, 2019 by oz. staff

Canopy has a heavyweight contender for the world’s biggest cannabis company title.

U.S. cannabis company Curaleaf has acquired Grassroots, which makes it a behemoth.

“With the acquisition of Grassroots and the pending acquisition of Select, Curaleaf is the world’s largest cannabis company by both revenue and operating presence,” said Joseph Lusardi, CEO of Curaleaf.

Curaleaf expands its presence from 12 to 19 states.

Grassroots is the market leader throughout the Midwest. Their presence in large markets like Illinois, which in June became the 11th state to legalize adult-use cannabis, and Pennsylvania, the fifth most populous state in the U.S., will drastically increase Curaleaf’s footprint.

The combined company will have 131 dispensary licences, 68 operational locations, 20 cultivation sites and 26 processing facilities. With the acquisition, Curaleaf will also add new markets in Arkansas, Michigan, North Dakota, Oklahoma, and Vermont, and build on its existing businesses in Connecticut, Maryland, Nevada and Ohio. Upon completion of the proposed transaction, Curaleaf will be the largest medical and adult-use cannabis company with access to a total population of about 177 million people.

Canopy, meanwhile, has the largest marketshare in the Canadian market. As we’ve talked about previously, it’s also positioned to acquire Acreage once federal legalization hits the US.