Curaleaf Acquires Majority Stake In German Medical Cannabis Company, Opens Dispensary In Allentown, PA

Curaleaf Holdings, Inc. CURLF CURA completed its agreement to acquire a 55% stake in Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis.

Boris Jordan, executive chairman of Curaleaf, stated, "We are pleased to complete the transaction with Four 20 Pharma and I am personally thrilled to welcome Torsten and Thomas to the Curaleaf family. Our early focus on Europe has given Curaleaf a formidable strategic asset and strong foundation in one of the industry's critical global markets. Curaleaf is the only U.S. MSO uniquely positioned to capitalize on the opportunity."

With the close of the transaction, Curaleaf has solidified a strategic pathway to acquire complete control of Four 20 Pharma after two years of the commencement of adult-use in Germany, which is slated to begin in early 2024.

Opening of Allentown Dispensary

The company is opening its Allentown dispensary, located at 1801 Airport Rd, Allentown, PA 18109. Curaleaf Allentown is the company's sixth new location to open within the Keystone State this year, expanding its retail presence to 18 locations in Pennsylvania and 137 nationwide.

Curaleaf Allentown offers a curated selection of products across the company's brand portfolio including Grassroots, Select and Curaleaf. Patients can choose from a wide array of products including Select Elite, Select Elite Live, Grassroots full-spectrum and strain-specific RSO, Grassroots full-spectrum and strain specific RSO capsules, Grassroots pre-packaged flower, Curaleaf pre-packaged flower and Grassroots concentrates.

The new dispensary celebrated its soft opening on September 17 and is scheduled for an official grand opening event on September 29. Curaleaf has commemorated its latest retail opening by making a $5,000 donation to the Urban Affairs Coalition, a nonprofit organization dedicated to improving quality of life and building wealth in marginalized communities.

In addition to Curaleaf Allentown, the company serves patients in Altoona, Bradford, Brookville, City Avenue, DuBois, Erie, Gettysburg, Greensburg, Harrisburg, Horsham, King of Prussia, Lancaster, Lebanon, Morton, Philadelphia, State College, and Wayne.

Photo: Benzinga; Sources: courtesy of geralt, lindsayfox via Pixabay

Related News

'Risk Free' Bonds Are Paying Historic Yields, But These 3 REITs Have Them Beat

EXCLUSIVE: Curaleaf Founder Boris Jordan Says Cannabis Drinks Will Be 50% Of The Industry

EXCLUSIVE: The Cannabis Industry Is Ripe For M&A: Top Industry Execs Talk Opportunity Ahead