Curaleaf Holdings, Inc. (CSE: CURA / OTCQX: CURLF), a leading vertically integrated cannabis operator in the United States, today announced the Massachusetts Cannabis Control Commission (CCC) has approved the Company's previously announced acquisition of Alternative Therapies Group.
Joseph Lusardi, Chief Executive Officer of Curaleaf, said, "We appreciate the work of the Commission, and we are pleased to have secured the final regulatory approval for our acquisition of ATG's Amesbury cultivation and manufacturing licenses and facility, paving the way for a successful completion of the transaction, and we thank the Commission. As we look ahead, the integration of ATG's cultivation and processing facility will expand our cannabis grow capacity in Massachusetts by 60%, allowing us to better address the rising demand we continue to see among medical and adult-use customers as well as expand Curaleaf's wholesale market presence. Overall, these enhanced production capabilities will provide a powerful growth engine for our business in 2021 and beyond as new harvests come online."
In August of 2018, Curaleaf entered into an agreement to acquire ATG's 53,600 square foot cultivation and processing facility in Amesbury, Massachusetts. In connection with the acquisition, ATG's dispensaries located in Amesbury, Salisbury and Salem will be spun off and continue to operate under the ATG brand and will be supplied by Curaleaf. Closing of the ATG transaction is expected to be completed in the coming days.
Curaleaf is vertically integrated in Massachusetts, including licensed cultivation and manufacturing facilities as well as operating four dispensary locations. The Company dispensary footprint includes two adult-use locations in Provincetown and Ware, a co-located medical and adult-use dispensary in Oxford, as well as a medical dispensary in Hanover. In July of 2020, Curaleaf announced the continued expansion of its Select brand offerings into new markets, including Massachusetts, with the launches of its Select Elite and Select Nano Gummies. Select, America's #1 Cannabis Oil Brand, is a nationally trusted brand that maintains peak industry-standard practices for quality control to ensure the overall efficacy and the best product experience possible. As a recognized industry leader, Select has gained popularity in medical as well as adult-use markets and is now available in 14 states and is on track to become the first nationally recognized consumer cannabis brand.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) is a leading vertically integrated U.S. multi-state cannabis operator with a mission to improve lives by providing clarity around cannabis and confidence around consumption. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, including Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Curaleaf currently operates in 23 states with 93 dispensaries, 22 cultivation sites and over 30 processing sites, and employs over 3,000 team members across the United States. Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under the symbol CURLF. For more information please visit www.curaleaf.com.
