Curaleaf

Last updated
Curaleaf
Company type Public
OTCQX:  CURLF
TSX:  CURA
Industry Cannabis industry
Founded2010
Headquarters
New York City, US
Key people
Boris Jordan, Executive Chairman
Matt Darin, CEO
Joseph Bayern, Vice Chairman
Website curaleaf.com

Curaleaf Holdings, Inc. is an American cannabis company publicly traded on the Canadian stock exchange. The company is headquartered in New York City. Founded in 2010, it produces and distributes cannabis products in North America, operating dispensaries in 19 states. The company is headquartered in New York City, and is the world's largest cannabis company by revenue.

Contents

History

Curaleaf was founded in 2010 under the name PalliaTech. [1] It operated in New Jersey and had a research center in Colorado. In 2013, the investment group Sputnik purchased a 35% stake in the company. [2] The company name was changed to Curaleaf in 2018, [3] just prior to going public on Toronto's Canadian Securities Exchange under the symbol CURA. [4] It also raised $400 million in what was considered the largest stock offering in cannabis industry history. [5] Curaleaf has grown to be the largest Cannabis company in the world. [6]

Curaleaf has made several acquisitions in the cannabis industry. It acquired the cannabis oil brand Select in 2019, making it the largest cannabis operator in the United States. [7] The following year it acquired Colorado based edibles maker BlueKudu, which is known for its infused chocolates and gummies. [8] In 2020, Curaleaf became the world's largest cannabis company by revenue after the purchase of its Chicago-based competitor Grassroots Cannabis. [9] The purchase also expanded the company into 23 states in the U.S. [10]

In April 2021, Curaleaf announced that it had completed its previously announced acquisition of EMMAC Life Sciences Limited ("EMMAC"), the largest vertically integrated independent cannabis company in Europe. The acquisition gives Curaleaf cultivation, EU GMP-certified processing, distribution, and R&D operations in several key European cannabis markets, including the United Kingdom, Germany, Italy, Spain and Portugal. [11]

In May 2021, Curaleaf announced it had signed a definitive agreement to acquire Los Sueños Farms, a 36-acre outdoor marijuana growing operation in Colorado, for over $60 million. [12]

In September 2021, an Oregon subsidiary of the company, Cura Cannabis, mistakenly distributed tinctures with THC that were mislabeled as containing only CBD. This led to a recall by The Oregon Liquor and Cannabis Commission (OLCC). [13]

In April 2023, Curaleaf’s Chairman Boris Jordan was named a winner of Global Cannabis Times 100 Most Influential People 2023 in the Business Category. [14]

Related Research Articles

<span class="mw-page-title-main">Cannabis edible</span> Food item containing cannabis extract or cannabinoids

A cannabis edible, also known as a cannabis-infused food or simply an edible, is a food item that contains decarboxylated cannabinoids from cannabis extract as an active ingredient. Although edible may refer to either a food or a drink, a cannabis-infused drink may be referred to more specifically as a liquid edible or drinkable. Edibles are a way to consume cannabis. Unlike smoking, in which cannabinoids are inhaled into the lungs and pass rapidly into the bloodstream, peaking in about ten minutes and wearing off in a couple of hours, cannabis edibles may take hours to digest, and their effects may peak two to three hours after consumption and persist for around six hours. The food or drink used may affect both the timing and potency of the dose ingested.

<span class="mw-page-title-main">Medical cannabis</span> Marijuana used medicinally

Medical cannabis, or medical marijuana (MMJ), is cannabis and cannabinoids that are prescribed by physicians for their patients. The use of cannabis as medicine has not been rigorously tested due to production and governmental restrictions, resulting in limited clinical research to define the safety and efficacy of using cannabis to treat diseases.

<span class="mw-page-title-main">Cannabis tea</span> Cannabis-infused drink

Cannabis tea is a cannabis-infused drink prepared by steeping various parts of the cannabis plant in hot or cold water. Cannabis tea is commonly recognized as an alternative form of preparation and consumption of the cannabis plant, more popularly known as marijuana, pot, or weed. This plant has long been recognized as an herbal medicine employed by health professionals worldwide to ease symptoms of disease, as well as a psychoactive drug used recreationally and in spiritual traditions. Though less commonly practiced than popular methods like smoking or consuming edibles, drinking cannabis tea can produce comparable physical and mental therapeutic effects. Such effects are largely attributed to the THC and CBD content of the tea, levels of which are drastically dependent on individual preparation techniques involving volume, amount of cannabis, and boiling time. Also in common with these administration forms of cannabis is the heating component performed before usage. Due to the rather uncommon nature of this particular practice of cannabis consumption in modern times as well as the legality of cannabis throughout the World, the research available on the composition of cannabis tea is limited and based broadly around what is known of cannabis as it exists botanically.

<span class="mw-page-title-main">Cannabis consumption</span> Methods of marijuana administration

Cannabis consumption refers to the variety of ways cannabis is consumed, among which inhalation and ingestion are most common. All consumption methods involve heating the plant's THCA to decarboxylate it into THC, either at the time of consumption or during preparation. Salves and absorption through the skin (transdermal) are increasingly common in medical uses, both of CBD, THC, and other cannabinoids. Each method leads to subtly different psychoactive effects due to the THC and other chemicals being activated, and then consumed through different administration routes. It is generally considered that smoking, which includes combustion toxins, comes on quickly but lasts for a short period of time, while eating delays the onset of effect but the duration of effect is typically longer. In a 2007 ScienceDaily report of research conducted at the University of California–San Francisco, researchers reported that vaporizer users experience the same biological effect, but without the toxins associated with smoking. Δ9-THC is the primary component when inhaled, but when eaten the liver converts this to the more psychoactive 11-hydroxy-THC form.

<i>Cannabis</i> strain Pure or hybrid varieties of cannabis

Cannabis strains are either pure or hybrid varieties of the plant genus Cannabis, which encompasses the species C. sativa, C. indica, and C. ruderalis.

<i>High Times</i> Medical Cannabis Cup Annual event celebrating medical marijuana

The High TimesMedical Cannabis Cup is an annual event celebrating medical marijuana. The first Medical Cannabis Cup took place in San Francisco, California, on June 19–20, 2010.

<span class="mw-page-title-main">Legality of cannabis by U.S. jurisdiction</span>

In the United States, cannabis is legal in 38 of 50 states for medical use and 24 states for recreational use. At the federal level, cannabis is classified as a Schedule I drug under the Controlled Substances Act, determined to have a high potential for abuse and no accepted medical use, prohibiting its use for any purpose. Despite this prohibition, federal law is generally not enforced against the possession, cultivation, or intrastate distribution of cannabis in states where such activity has been legalized.

<span class="mw-page-title-main">Charlotte's Web (cannabis)</span> Strain of medical marijuana

Charlotte's Web is a brand of high-cannabidiol (CBD), low-tetrahydrocannabinol (THC) products derived from industrial hemp and marketed as dietary supplements and cosmetics under federal law of the United States. It is produced by Charlotte's Web, Inc. in Colorado. Hemp-derived products do not induce the psychoactive "high" typically associated with recreational marijuana strains that are high in THC. Charlotte's Web hemp-derived products contain less than 0.3% THC.

<span class="mw-page-title-main">Cannabis in Kansas</span> Legality, use and culture of cannabis in the U.S. state of Kansas

Cannabis in Kansas is fully illegal, and possession of even small amounts is a misdemeanor crime. Cannabis is only legal in Kansas in the form of THC free cannabidiol oil, also known as CBD.

<span class="mw-page-title-main">Cannabis dispensaries in the United States</span> Local government regulated location

Cannabis dispensaries in the United States or marijuana dispensaries are a type of cannabis retail outlet, local government-regulated physical location, typically inside a retail storefront or office building, in which a person can purchase cannabis and cannabis-related items for medical or recreational use.

<span class="mw-page-title-main">Effects of legalized cannabis</span> Economic and societal effects of legalized cannabis

<span class="mw-page-title-main">Cannabis in Israel</span>


The possession, use, and distribution of cannabis without a license in the State of Israel are violations under the Dangerous Drugs Ordinance. A decade ago, despite these regulations, enforcement was relatively lax, partially influenced by a political movement advocating tolerance. Over the years, the enforcement approach has progressively become more lenient. As of 2021, cannabis use has been fully decriminalized, with it being treated as an administrative infraction primarily when used in highly visible public places. There is a possibility that cannabis may be legalized for recreational use by adults aged 21 and older in the future, with regulations akin to those for alcohol. Public and cross-party political support for the complete decriminalization of cannabis increased in the 2010s with increasing usage for both medical and recreational purposes, and the establishment of a political party primarily devoted to this cause; on July 19, 2018, the Knesset approved a bill for decriminalization, although the supporters of recreational cannabis use insisted that this did not represent complete decriminalization. The law came into effect on April 1, 2019. On June 25, 2020, further legislation designed to decriminalize possession of up to 50 grams of cannabis began its passage through the Knesset.

<span class="mw-page-title-main">Cannabis in Thailand</span> Use of cannabis in Thailand

In Thailand, cannabis, known by the name Ganja has recently had new laws passed through. Cannabis that has less than 0.2% THC, referred to as industrial hemp in USA, was legalised on 9 June 2022. Medicinal cannabis, with no THC restrictions, was made legal in 2018 but required patients to obtain a prescription from a medical practitioner. Recreational cannabis is still illegal according to Thai law.

<span class="mw-page-title-main">Glossary of cannabis terms</span>

Terms related to cannabis include:

Cannabis product testing is a form of product testing analyzes the quality of cannabis extracts, edibles, and THC and CBD levels in an emergent consumer market eager to sell adult use products. Analytical chemistry and microbiology laboratories are important entities in consumer protection. These labs not only determine the condition and viability of cannabinoids, water content, heavy metals, pesticides, terpenes, yeast, but also the presence of mold, mycotoxins, and solvents. These laboratories emerged when advocates of cannabis testing raised concerns about potential contaminants.

<span class="mw-page-title-main">Cannabis concentrate</span> Preparation of cannabis

Cannabis concentrate, also called marijuana concentrate, marijuana extract, or cannabis extract, is a tetrahydrocannabinol (THC) and/or cannabidiol (CBD) concentrated mass. Cannabis concentrates contain high THC levels that range from 40% to over 90%, stronger in THC content than high-grade marijuana, which normally measures around 20% THC levels.

Aurora Cannabis Inc. is a Canadian licensed cannabis producer, headquartered in Edmonton. It trades on the Toronto Stock Exchange and Nasdaq as ACB. As of late September 2018, Aurora Cannabis had eight licensed production facilities, five sales licences, and operations in 25 countries. It had a funded capacity of over 625,000 kilograms of cannabis production per annum with the bulk of capacity based in Canada and a growing presence in international markets, particularly Denmark and Latin America. The company began trading on the NYSE on October 23, 2018, using the ticker ACB.

Women have been active in the cannabis industry, cannabis legalization, cannabis testing, and cannabis rights since the earliest days of commercialization, but they have also faced gendered obstacles impeding their growth in an industry worth over 12 million dollars since 2019. "The American cannabis industry accounted for $10 billion of 2018’s [global] figures, with the average U.S. dispensary pulling in $3 million a year."

Tilray Brands, Inc. is an American pharmaceutical, cannabis-lifestyle and consumer packaged goods company, incorporated in the United States, headquartered in New York City. Tilray also has operations in Canada, Australia, New Zealand, and Latin America, with growing facilities in Germany and Portugal.

Indiva is a publicly traded company based in London, Ontario. The company operates in the Canadian cannabis industry, producing and supplying cannabis and cannabis products for both the legal recreational and medical markets. Indiva was founded in 2015 by Koby Smutylo, Max Marion, and Niel Marotta.

References

  1. Wood, Sam. "Marijuana company Curaleaf, valued at $4 billion, has big plans with Penn Medicine for King of Prussia" . Retrieved 2022-03-17.
  2. "Jordan Buys Into New Medicine". The Moscow Times. 31 July 2013.
  3. Borchardt, Jackie. "Curaleaf gives up Ohio medical marijuana license for Clermont County facility". The Enquirer. Retrieved 2022-02-14.
  4. "Marijuana company Curaleaf looking for $4 billion valuation". Marijuana Business Daily. 14 September 2018.
  5. Alpert, Bill (21 November 2018). "One of America's Richest Marijuana Companies Has Deep Russian Roots". Barron's.
  6. "This is now the biggest cannabis company in the world". CNN.
  7. Guzman, Zack (1 May 2019). "Curaleaf notches largest U.S. cannabis acquisition with nearly $1 billion deal". Yahoo Finance. Retrieved 11 September 2019.
  8. "Cannabis giant Curaleaf to acquire Colorado edibles maker BlueKudu". The Denver Post. 2020-03-02. Retrieved 2020-03-18.
  9. Davis, Katherine (17 July 2019). "Grassroots Cannabis to Be Acquired by Curaleaf for $875M". Chicago Inno.
  10. Yakowicz, Will. "Inside Curaleaf Billionaire Boris Jordan's Hunger To Become The 'Frito-Lay' Of Cannabis". Forbes. Retrieved 2021-06-28.
  11. "Curaleaf Completes Acquisition of EMMAC and Secures US$130 Million Investment from a Single Strategic Institutional Investor". Curaleaf Holdings, Inc. Investor Relations. Retrieved 2021-06-28.
  12. Bahcetepe, Hilal. "Southern Colorado Marijuana Farms Have New Ownership". Westword. Retrieved 2022-02-14.
  13. Staff, MJBizDaily (2021-09-30). "CBD labeling mix-up leads to Oregon recall, lawsuit over THC in tinctures". MJBizDaily. Retrieved 2022-02-14.
  14. Staff, Global Cannabis Times (April 7, 2023). "GCT100 2023 Winners: Business".

CNN - Curaleaf is the largest Cannabis company in the world. [1]


  1. "This is now the biggest cannabis company in the world". CNN. Retrieved 2023-04-19.