Bloom further strengthens Curaleaf’s presence in the highly attractive Arizona market, expanding the Company’s cultivation, processing, and retail assets in the state
Acquisition will be immediately accretive to Curaleaf’s adjusted EBITDA margin upon close
Upon close of recently announced acquisitions, the Company’s retail footprint increases to 16 dispensaries in Arizona and 128 nationwide
WAKEFIELD, Mass., Dec. 28, 2021 /PRNewswire/ — Curaleaf Holdings, Inc. (CSE: CURA /OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading international provider of consumer products in cannabis, today announced that it has entered into a definitive agreement to acquire Bloom Dispensaries (“Bloom”), a vertically integrated, single state cannabis operator in Arizona in an all cash transaction valued at approximately US$211 million (the “Transaction”). The Transaction is expected to close in January 2022, subject to customary approvals and conditions.
The proposed transaction with Bloom includes four retail dispensaries located in the cities of Phoenix, Tucson, Peoria, and the only dispensary currently in Sedona, with a combined population of over 2.3 million and drawing millions of tourists every year. In addition, Bloom strengthens Curaleaf’s production capabilities in Arizona with the addition of two adjacent cultivation and processing facilities located in north Phoenix totaling approximately 63,500 sq. ft. of