Curaleaf Holdings, Inc. completed the acquisition of Northern Green Canada Inc. for approximately $16 million.
April 21, 2024
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Curaleaf Holdings, Inc. (TSX:CURA) signed a deal to acquire Northern Green Canada Inc. (NGC) on March 19, 2024. Post acquisition, NGC team will join the Curaleaf International family. The deal is expected to close in the second quarter of 2024, pending all regulatory approvals. Curaleaf expects the NGC acquisition to be a highly accretive deal that marks Curaleaf's first step into the Australasian markets, creating a true global cannabis company with global brands.
Curaleaf Holdings, Inc. (TSX:CURA) completed the acquisition of Northern Green Canada Inc. (NGC) for approximately $16 million on April 22, 2024. Terms of the acquisition of NGC include an initial payment at closing of the Company's Subordinate Voting Shares valued at approximately $16 million, subject to a typical post-closing adjustment. An earnout may also be paid in 2025 based upon 2024 performance of NGC's operations, up to 50% of which will be cash and the rest paid in additional Subordinate Voting Shares. The issuance of Subordinate Voting Shares in connection with the acquisition of NGC has been conditionally approved by the Toronto Stock Exchange, subject to fulfilling customary listing conditions.
Curaleaf Holdings, Inc. is an international provider of consumer cannabis products. The Company and its brands, including Curaleaf, Select, Grassroots, JAMS, Find and Zero Proof provide selection and accessibility across the medical and adult use markets. It operates in approximately 17 states and owns and operates 147 dispensaries and 21 cultivation sites with a focus on states, including Arizona, Florida, Illinois, Massachusetts, New Jersey, New York and Pennsylvania. It cultivates, processes, markets and/or dispenses a range of permitted cannabis products across its operating markets, including flower and pre-rolls, dry-herb vaporizer cartridges, concentrates for vaporizing such as pre-filled vaporizer cartridges and disposable vaporizer pens, concentrates for dabbing, such as mints, topical balms and lotions, tinctures, lozenges, capsules and edibles. Through Curaleaf International Holdings Limited, it has a supply and distribution network throughout the European market.