- Curaleaf Holdings (CURA) announces acquisition of Cura Partners, which owns vape brand Select
- The acquisition comes after Curaleaf’s deal with Acres Cannabis, dated January 3
- Curaleaf also reshuffles upper management to include key figures from Select
- The company’s shares are currently trading at C$9.35, with a market cap of C$4.4 billion
Leading US cannabis operator, Curaleaf Holdings (CURA), has announced its acquisition of vape brand Select.
The acquisition will include the manufacturing, distribution, marketing and sales operations, as well as its intellectual property.
“The close of the Select deal is a major milestone in Curaleaf’s history and marks an unprecedented phase of growth for our company,” said Curaleaf CEO, Joseph Lusardi.
“Our entire organization is focused on accelerating our growth as a combined company with two of the fastest growing cannabis brands in the country.”
Under the terms of the deal, Cameron Forni will become President of Select – which he founded in 2015 – and will be tasked with managing its growth as it expands into new markets.
Mr. Forni is considered a leading authority on vaporizer cartridges, and was a key player in establishing Select’s award-winning brand, culture and operations throughout California, Oregon, Arizona and Nevada.
Jason White will also join Curaleaf from Select in the newly established role as Chief Marketing Officer.
In further changes to company management, Curaleaf Chief Financial Officer, Neil Davidson, will assume the role of Chief Operating Officer, responsible for managing the company’s cultivation and manufacturing capabilities, while Michael Carlotti will replace him as CFO.
Former COO, Stuart Wilcox, will move to a new role in leading the company’s expansion into emerging markets.
“We’re thrilled to be expanding our leadership bench to include individuals with unmatched expertise combined with a deep passion for this business,” said Mr. Lusardi.
Curaleaf’s deal with Select comes hot on the heels of another acquisition in Acres Cannabis, dated January 3, as well as the receipt of preliminary retail and processing licenses in Utah.
Curaleaf shares are currently trading at C$9.35, with a market cap of C$4.4 billion.