Curaleaf, a leading vertically integrated cannabis operator in the U.S., has signed a definitive agreement to acquire the cannabis business of Cura Partners, Inc., owners of the brand Select (Select Oil and Select CBD), in an all-stock transaction valued at $948.8 million.
The acquisition includes Select’s manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name, including all intellectual property.
Based in Portland, Oregon, Cura’s Select is one of the most well-known cannabis wholesale brands in the country. Its THC products are sold in more than 900 retailers, making it a leading cannabis brand in key Western states, including Arizona, California, Nevada and Oregon.
“The transformational acquisition of Cura and the Select brand is another step in our journey to create the most accessible cannabis brands in the U.S.,” said Joseph Lusardi, CEO of Curaleaf. “The combination of Curaleaf and Select is a perfect fit. With our industry leading capacity, expansive retail distribution network and Select’s impressive sales and marketing capabilities, we intend to meaningfully accelerate our topline growth trajectory with the addition of the Select Oil product range.”
Cura is recognized as having one of the best employee cultures in the industry. In 2018, Cura was named as one of the “Top 100 Companies to Work For” in Oregon by Oregon Business Magazine and placed No. 12 in the Large Companies category. In 2019, Cura won the award again demonstrating Cura’s ability to focus on its culture while growing its headcount by 400%.