Curaleaf Obtains Grassroots' Arizona License, Acquisition Almost Complete

VCuraleaf Holdings, Inc. CURA CURLF confirmed Monday it has acquired Grassroots' All Rebels Rockers Inc. marijuana license in Arizona.

"Our acquisition of our 9th license in Arizona further strengthens our presence in the state, which continues to be one of the largest medical cannabis markets in the country," said Curaleaf CEO Joseph Lusardi in a prepared statement.

The acquisition of Chicago-based Grassroots will boost Curaleaf's footprint by expanding its coverage to five additional states.

Following the transaction, which was announced months ago, Curaleaf will hold over 135 dispensary licenses. In addition, it will operate 89 dispensaries as well as 30 processing and 22 cultivation facilities.

Currently, Curaleaf runs eight stores across Arizona.

However, Grassroots is not the only company Curaleaf opted to acquire.

On Friday, the Wakefield, Massachusetts-based company finalized the purchase of Virginia's Kitchen, which does business as BlueKudu.

Courtesy photo