Curaleaf, a leading vertically integrated cannabis operator in the United States, announced that it closed the acquisition of Select on February 1. With the completion of the acquisition, Curaleaf solidifies its stance as the largest cannabis operator in the U.S. in terms of operational and wholesale footprint, including 53 open dispensaries, and positions the Company well for its next phase of growth.
Curaleaf’s acquisition of Cura Partners, Inc., owners of the Select brand, includes Select’s manufacturing, distribution, marketing and sales operations marketed under the Select brand name, including all intellectual property.
“The close of the Select deal is a major milestone in Curaleaf’s history and marks an unprecedented phase of growth for our company,” said Joseph Lusardi, CEO of Curaleaf. “As we’ve scaled, Curaleaf has pioneered the U.S. cannabis industry, and we’re incredibly excited about the future and our leadership role in it. Our entire organization is focused on accelerating our growth as a combined company with two of the fastest growing cannabis brands in the country.”
The closing provides tremendous opportunities for synergies as it combines Curaleaf’s national retail locations, vertically integrated structure, wellness brand, product range and East Coast hub with Select’s wholesale model, established lifestyle brand and leading West Coast market presence.
The news comes on the heels of Curaleaf’s acquisition of the Acres Cannabis vertical operations in Nevada, and the awarding of preliminary retail and processing licenses in Utah.
With the closing, visionary entrepreneur Cameron Forni assumes the role of President of Select and will focus on driving growth of the Select brand through expansion into new markets. Mr. Forni, who founded Select in 2015, is recognized as a leading authority on vaporizer cartridges and has played an instrumental role in building Select’s award-winning brand, culture and operations across California, Oregon, Arizona and Nevada.