Meet The Two Cannabis Companies That Plan To Boost Each Other's Reach In New Markets

Vertically integrated cannabis company Curio Wellness and Ascend Wellness Holdings AAWH AAWH have teamed up to expand each other's nationwide reach,

Under a strategic manufacturing and distribution partnership, Ascend agreed to manufacture and distribute Curio Wellness’ industry-leading products in Illinois, New Jersey and Massachusetts, while Curio agreed to manufacture and distribute Ascend’s Ozone products in Maryland and Missouri.

The partnership is a strategic collaboration, beneficial for both Curio and Ascend as it will allow them to leverage each other’s strengths and assets to expand market reach and product offerings, according to the press release. The capital-light approach enables both companies to use their existing IP and brand value in new markets without deploying meaningful capital.

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Michael Bronfein, CEO of Curio Wellness, praised the new partnership.

"By combining our award-winning, scientifically derived products with Ascend’s extensive manufacturing, sales, and distribution network, we will bring our targeted effects-based and patented cannabis solutions to three of the largest markets in the U.S.,” Bronfein said.

John Hartmann, CEO of Ascend, agreed.

“This partnership is mutually beneficial and broadens Ascend’s market exposure, without the need to invest significant incremental capital," Hartmann said. "Through Curio’s manufacturing capabilities, we will gain production and distribution leverage in Missouri and Maryland. Together, we will improve consumer access and continue to pave the way for the future of cannabis health and wellness.”

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AAWH Price Action

Ascend Wellness’ shares traded 3.16% higher at 98 cents per share at the time of writing on Monday morning.