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US (MA): Commission approves acquisition of cultivation and processing facility

Curaleaf Holdings has announced that the Massachusetts Cannabis Control Commission (CCC) has approved the Company's previously announced acquisition of Alternative Therapies Group ("ATG"). 

Joseph Lusardi, Chief Executive Officer of Curaleaf, said, "We appreciate the work of the Commission, and we are pleased to have secured the final regulatory approval for our acquisition of ATG's Amesbury cultivation and manufacturing licenses and facility, paving the way for successful completion of the transaction, and we thank the Commission. As we look ahead, the integration of ATG's cultivation and processing facility will expand our cannabis grow capacity in Massachusetts by 60%, allowing us to better address the rising demand we continue to see among medical and adult-use customers as well as expand Curaleaf's wholesale market presence. Overall, these enhanced production capabilities will provide a powerful growth engine for our business in 2021 and beyond as new harvests come online."

In August of 2018, Curaleaf entered into an agreement to acquire ATG's 53,600 square foot cultivation and processing facility in Amesbury, Massachusetts. In connection with the acquisition, ATG's dispensaries located in Amesbury, Salisbury and Salem will be spun off and continue to operate under the ATG brand and will be supplied by Curaleaf. Closing of the ATG transaction is expected to be completed in the coming days.

For more information:
Curaleaf
(781) 451-0150
301 Edgewater Place
Suite 405
Wakefield, MA 01880
info@curaleaf.com   
curaleaf.com   

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