Public Company Consumer

Curaleaf

New York, New York, United States

Curaleaf Holdings, Inc. ("Curaleaf") is a leading international cannabis consumer-products company. It provides medical and adult-use products through vertically integrated operations across cultivation, extraction/production, distribution, and retail. Curaleaf International operates across Europe with supply and distribution capabilities, including EU-GMP cultivation, extraction and production.

Focus Areas
Cannabis cultivation, Cannabis processing/manufacturing (EU-GMP), Cannabis retail (dispensaries)
Website
curaleaf.com

Tracked deals

9

9 tracked deals across 2021-2026.

Recent pace

2

2 tracked deals announced in the last 12 months.

Deal mix

Buyout

9 buyout

Curaleaf Acquisition Volume by Year

Last 6 years

Acquisition volume by year Annual acquisition counts for the last 6 years for Curaleaf. 3 2021 1 2022 1 2023 1 2024 1 2025 ~3 est. 2 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Aurora Cannabis Inc.
    Location
    Canada
    Type
    Buyout

    Curaleaf increased its takeover offer for Aurora Cannabis, raising implied consideration to US$5.00 per Aurora share and increasing the maximum cap to US$6.00 per share. The revised deal consideration includes Curaleaf subordinate voting shares plus US$1.00 cash per Aurora share, with Curaleaf citing expected synergies and a global cannabis platform rationale.

  • Buyer
    Curaleaf Holdings
    Target
    Four 20 Pharma GmbH
    Location
    Germany
    Type
    Buyout

    Curaleaf Holdings completed the acquisition of the remaining 45% stake in Four 20 Pharma GmbH, a Germany-based medical cannabis producer and distributor. The deal makes Four 20 Pharma a fully integrated Curaleaf subsidiary and strengthens Curaleaf’s vertically integrated European supply chain from cultivation sources to licensed distribution in Germany.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Curaleaf International Holdings Limited
    Seller
    Single strategic institutional investor (unnamed)
    Location
    England, United Kingdom
    Type
    Buyout

    Curaleaf Holdings, Inc. completed the buyout of a single strategic institutional investor's equity stake in Curaleaf International Holdings Limited, bringing Curaleaf's ownership of its European holding company to 100%. The transaction was settled in Curaleaf subordinate voting shares and is intended to strengthen control and accelerate the company's strategic initiatives and expansion across European markets.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Northern Green Canada Inc.
    Industry
    Pharmaceuticals
    Location
    Ontario, Canada
    Type
    Buyout

    Curaleaf Holdings, Inc. has signed a deal to acquire Northern Green Canada, an EU-GMP certified Canadian licensed cannabis producer, to secure high-quality indoor EU-GMP flower supply and bolster Curaleaf's European and Australasian expansion. The acquisition is expected to close in Q2 2024 pending regulatory approvals and will strengthen Curaleaf's supply chain for key markets including Germany, Australia/New Zealand and the U.K.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Deseret Wellness
    Industry
    Retail
    Type
    Buyout

    Curaleaf Holdings, Inc. agreed to acquire Deseret Wellness in a cash-and-stock transaction valued at approximately US$20 million. The deal adds three medical cannabis dispensaries in Park City, Provo and Payson (combined annualized revenue ~$14 million), expanding Curaleaf’s Utah retail footprint to four dispensaries and its nationwide store count to about 150.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Tryke Companies (dba Reef Dispensaries)
    Industry
    Retail
    Type
    Buyout

    Curaleaf Holdings, Inc. has completed the acquisition of Tryke Companies (dba Reef Dispensaries), a vertically integrated multi-state cannabis operator, expanding Curaleaf's cultivation and retail footprint across Arizona, Nevada and Utah. The transaction included cash and Curaleaf subordinate voting shares with total consideration of approximately US$181 million plus contingent shares tied to 2022 EBITDA targets, and is expected to be immediately accretive to Curaleaf's EBITDA and free cash flow.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Bloom Dispensaries
    Type
    Buyout

    Curaleaf Holdings, Inc. agreed to acquire Bloom Dispensaries, a vertically integrated single-state cannabis operator in Arizona, in an all-cash transaction valued at approximately US$211 million. The deal adds four retail dispensaries (Phoenix, Tucson, Peoria, Sedona) plus ~63,500 sq. ft. of adjacent cultivation and processing space in north Phoenix; Curaleaf will pay $51 million cash at close and the remainder via three promissory notes, and Bloom generated estimated 2021 revenue of ~$66 million with EBITDA margins above 40%.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    Los Sueños Farms
    Industry
    Retail
    Type
    Buyout

    Curaleaf Holdings agreed to acquire Los Sueños Farms, a large outdoor cannabis cultivation operator in Pueblo, Colorado, including 66 acres of outdoor cultivation, an 1,800-plant indoor grow and two retail dispensaries. The approximately $67 million deal (mix of stock, cash and assumed debt, plus contingent stock consideration) expands Curaleaf’s low‑cost cultivation capacity and vertically integrates its Colorado operations to support wholesale and Select-branded product distribution.

  • Buyer
    Curaleaf Holdings, Inc.
    Target
    EMMAC Life Sciences Limited
    Location
    England, United Kingdom
    Type
    Buyout

    Curaleaf Holdings announced a definitive agreement to acquire EMMAC Life Sciences Limited for approximately US$286 million (85% in Curaleaf shares, 15% cash) plus up to US$57 million of contingent earn-outs. The acquisition gives Curaleaf a developed, vertically integrated platform for entry into the European medical cannabis market, including cultivation, EU‑GMP processing, distribution and R&D across key EU markets.

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