Curaleaf To Acquire Colorado-Based Edibles Producer BlueKudu

Curaleaf Holdings, Inc. CURLF CURA said Monday it will purchase BlueKudu, a manufacturer of cannabis chocolates and gummies in Colorado.

BlueKudu is among the oldest edible producers in Colorado and is known for using premium ingredients from Alliance Fair Trade Certified Farms, Curaleaf said in a press release.

BlueKudu is focused on handcrafted cannabis products with choices that suit those with vegan and/or gluten-free diets.

Its award-winning products are sold in more than 200 retail stores across the state.

With the purchase, Curaleaf will operate an 8,400-square-foot infusion kitchen and processing facility in Denver. The acquisition is one more step in Curaleaf's plan to expand its recently acquired Select brand across Colorado, according to the press release.

"Colorado is the second-largest cannabis market in the US, with sales surpassing $1.7 billion in 2019," Curaleaf CEO Joe Lusardi said in a statement.

"With over eight years of operating history, BlueKudu has developed a strong brand for customers seeking premium cannabis products in a diverse range of flavors and formulations. BlueKudu's established production and distribution capabilities will allow Curaleaf to seamlessly enter the market and expand the Select brand presence in the state of Colorado."

Curaleaf shares were down 2.69% at $5.10 at the time of publication Tuesday. 

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