WAKEFIELD, Mass., Sept. 19, 2022 – PRESS RELEASE – Curaleaf Holdings Inc., a leading international provider of
consumer products in cannabis, announced the completion of 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, said, “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 reform in Germany, which is slated to begin in early 2024.
Miles
Worne, president of Curaleaf International, said, “Four 20 Pharma is an ideal
asset to accelerate our growth in Germany as the country readies for its
conversion from medical cannabis to adult use. Curaleaf International continues
to build our platform in eight markets, and this deal further underscores our
aspiration to be a major player in the European market and the global industry
leader.”
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