Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced the successful completion of the Company's acquisition of Alternative Therapies Group's licensed cultivation and processing operations in Amesbury, Massachusetts as of November 3, 2020.
Joseph Lusardi, Chief Executive Officer of Curaleaf, stated, "With the acquisition of ATG's grow and processing operations, we'll be adding 53,600 square feet of capacity to our existing 104,000 square feet capacity in Massachusetts. The Amesbury facility is fully built out, operational, and will be immediately accretive to our production capabilities in Massachusetts, which, according to Cannabis Benchmarks, currently commands the second highest wholesale flower prices in the nation."
Combined with Curaleaf's current cultivation facility in Webster, Massachusetts, the ATG acquisition brings Curaleaf's total cultivation capacity in the state to 157,600 square feet. The integration of the new operations establish Curaleaf as the only cannabis provider in Massachusetts approved for two adult-use cultivation licenses, two adult-use processing licenses, and the maximum-permitted three adult-use dispensary licenses. In connection with the acquisition, ATG's dispensaries located in Amesbury, Salisbury and Salem have been spun off and continue to operate under the ATG brand.
Curaleaf is vertically integrated in Massachusetts, including licensed cultivation and manufacturing facilities as well as operating four dispensary locations. The Company dispensary footprint includes two adult-use locations in Provincetown and Ware, a co-located medical and adult-use dispensary in Oxford, and a medical dispensary in Hanover. In July of 2020, Curaleaf announced the continued expansion of its Select brand offerings into new markets, including Massachusetts, with the launches of its Select Elite and Select Nano Gummies. Select, America's #1 Cannabis Oil Brand, is a nationally recognized brand that maintains peak industry-standard practices for quality control to ensure the best product experience possible. As a recognized industry leader, Select has gained popularity in medical as well as adult-use markets and is now available in 15 states and is on track to become the first nationally recognized consumer cannabis brand.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) ("Curaleaf") is the leading vertically integrated U.S. multi-state cannabis operator with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 95 dispensaries, 23 cultivation sites and over 30 processing sites, and employs over 3,000 team members across the United States. 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 www.curaleaf.com.
