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TM

Curaleaf Completes the Acquisition

of Grassroots Creating the World’s

Largest Cannabis Company

Curaleaf Holdings, Inc. announced Dakota, and Vermont.
that it recently closed its milestone The cultivation and processing assets
acquisition of GR Companies, Inc. in Illinois have been transferred and the
With completion of the acquisition of formal approval to transfer certain retail
Grassroots, Curaleaf is the world’s largest assets is expected imminently. Maryland
cannabis company by revenue and the operations previously affiliated with
most diversified vertically integrated Grassroots may be transferred to
cannabis company in the United States, Curaleaf after expiration of the statutory
the world’s largest cannabis market. The hold period, subject to regulatory
transaction expands approval and compliance with restric-
Curaleaf’s presence from 18 to 23 tions on ownership or control of multi-
states, with the combined company hav- ple cultivation, processor and dispensary
ing affiliated operations spanning over licenses in the State.
135 dispensary licenses, 88 operational Upon closing of the transaction,
dispensary locations, over 30 processing Curaleaf has appointed Mitchell Kahn,
facilities and 22 cultivation sites with 1.6 co-founder and CEO of Grassroots, to
million square feet of current cultivation the company’s Board of Directors effec-
capacity. Curaleaf’s expanded geographic tive immediately. The appointment of
dispensary presence now offers access to Kahn expands the Curaleaf Board of
medical or adult use Cannabis to more Directors from five to six members.
than 192 million people, or roughly two- Kahn co-founded Grassroots Cannabis
thirds of the United States population. in 2014 and brings more than 20 years of
Completion of the transaction strategi- senior executive experience. He current-
cally accelerates Curaleaf’s expansion ly serves as Principal and CEO of
into Illinois and Pennsylvania, which are Frontline Real Estate Partners, for which
among the largest and fastest-growing he is also a Founder, and previously
cannabis markets in the United States. served as President and CEO of Hilco
Upon close, Curaleaf will hold a leading Real Estate. Mr. Kahn is a CPA, as well as
licensed cannabis presence in state mar- an attorney who has formerly practiced
kets including Arizona, Connecticut, real estate law. He is a graduate of the
Florida, Illinois, Pennsylvania, University of Wisconsin, School of
Maryland, Massachusetts, Maine, Business and Northwestern University,
Nevada, New Jersey, New York, North School of Law.

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38 August 2020 cannabisnewsflorida.com Cannabis News Florida