Business
Curaleaf Announces Majority Stake and Forms Strategic Partnership with Germany's Four 20 Pharma, a Fully EU-GMP & GDP Licensed Producer and Distributor of Medical Cannabis
Curaleaf Announces Majority Stake and Forms Strategic Partnership with Germany's Four 20 ...
About this update from Curaleaf Holdings, Inc.
[{"type":"text","content":"\n \n \n \n Curaleaf Announces Majority Stake and Forms Strategic Partnership with Germany's Four 20 Pharma, a Fully EU-GMP & GDP Licensed Producer and Distributor of Medical Cannabis\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 Curaleaf Announces Majority Stake and Forms Strategic Partnership with Germany's Four 20 Pharma, a Fully EU-GMP & GDP Licensed Producer and Distributor of Medical Cannabis\n \n \n Canada NewsWire\n \n \n \n \n \n Deal Bolsters Curaleaf Presence and Cements Strategic Advantage in\n \n Europe's\n \n Largest Market as Germany Readies for Adult Use\n \n \n \n \n \n WAKEFIELD, Mass.\n \n \n ,\n \n \n Aug. 9, 2022\n \n \n /CNW/ -- Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (\"Curaleaf\" or the \"Company\"), a leading U.S. provider of consumer products in cannabis, today announced that Curaleaf International Holdings Limited, the company's European holding company, has signed a definitive agreement to acquire a 55% stake in Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis with its own product line.\n \n \n The unique partnership creates a strategic pathway for Curaleaf to acquire complete control of Four 20 Pharma within two years of the commencement of adult use in\n \n Germany\n \n and ensures alignment between Curaleaf and Four 20 Pharma's current management team to rapidly build a best-in-class German business and a strong platform for\n \n Germany's\n \n eventual adult use market. Germany currently represents the largest medical cannabis market in\n \n Europe\n \n , with a total addressable market of over €200M in 2022 and expected to grow to nearly €1bn by the end of 2024 via adult-use legalization, which is slated to begin in late 2023 or early 2024.\n \n \n Four 20 Pharma is among the largest cannabis operators in\n \n Germany\n \n , with a greater than 10% market share. From its inception, Four 20 Pharma has focused on bringing top quality flower to market.\n \n \n \n Boris Jordan\n \n , Curaleaf Ex...