Curaleaf Announces Acquisition of Deseret Wellness

About this update from Curaleaf Holdings, Inc.

[{"type":"text","content":"\n \n \n \n Curaleaf Announces Acquisition of Deseret Wellness\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n Transaction Strengthens Curaleaf's Presence in\n \n Utah\n \n as State's Largest Retail Operator\n \n \n \n \n Upon Close, the\n \n \n Company's Retail Footprint Will Increase to Four Dispensaries in\n \n Utah\n \n and 150 Nationwide\n \n \n \n \n \n NEW YORK\n \n \n ,\n \n \n March 29, 2023\n \n \n /CNW/ --\n \n Curaleaf Holdings, Inc.\n \n (CSE: CURA) (OTCQX: CURLF) (\"Curaleaf\" or the \"Company\"), a leading international provider of consumer cannabis products, today announced that it has entered into a definitive agreement to acquire Deseret Wellness (\"\n \n Deseret\n \n \"), the largest cannabis retail operator in\n \n Utah\n \n , in a cash and stock transaction valued at approximately\n \n US$20 million\n \n (the \"Transaction\"). The Transaction is expected to close imminently, subject to customary closing conditions.\n \n \n The proposed Transaction with\n \n Deseret\n \n includes three retail dispensaries located in the cities of\n \n Park City\n \n ,\n \n Provo\n \n and\n \n Payson\n \n , with a combined annualized revenue run rate of\n \n US$14 million\n \n .\n \n Deseret\n \n immediately strengthens Curaleaf's retail footprint in\n \n Utah\n \n , providing the state's medical patients with a wide variety of quality products including cannabis flower, vape cartridges, edibles, and concentrates. Following the close of\n \n Deseret\n \n , Curaleaf's retail footprint will increase to four dispensaries in\n \n Utah\n \n and 150 nationwide.\n \n \n \n Boris Jordan\n \n , Executive Chairman of Curaleaf, stated, \"We are pleased to continue Curaleaf's expansion in\n \n Utah\n \n with the acquisition of Deseret Wellness. This deal represents the largest cannabis retail change of ownership in the state's history and bolsters our strong position in the market with an attractive portfolio of retail assets. On behalf of the Board of Directors and management team, I look forward to wel...

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