Curaleaf Debuts In Utah With 90th US Store

Cannabis company Curaleaf Holdings Inc. CURA CURLF has launched its first store in Utah.

The new pharmacy is the company's 90th retail location in the country. It's located at 3633 N. Thanksgiving Way in Lehi.

The Wakefield, Massachusetts-based company also noted that it's finalizing the build-out of its processing operation in North Salt Lake City.

The facility is scheduled to launch in mid-September, according to a Monday press release.

"We look forward to introducing our Select and Curaleaf formulas to the patients of Utah with our new Lehi location," Curaleaf President Joe Bayern said in a statement. "We anticipate that demand will quickly surpass projected numbers in this market, as cannabis use continues to gain acceptance for a variety of health and wellness needs."

The company has been expanding its footprint in Florida as well. Over the past month, it cut the ribbon on its stores in Clearwater and Tampa.

It also landed some significant deals, including the completion of the Grassroots' acquisition. As a part of that deal, Curaleaf tapped Grassroots' founder and CEO Mitchell Kahn to its board of directors.

According to its latest earnings report, the company saw a 120% year-over-year increase in managed revenue, reaching $121.4 million for the second quarter of fiscal 2020.

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