As Connecticut continues to wrestle with the idea of legalizing recreational cannabis, a Massachusetts cannabis operator is positioning itself as a market leader.
Curaleaf, headquartered in the Bay State town of Wakefield, is already the world’s largest cannabis company by sales, with expected annual revenue this year of roughly $1 billion. That valuation is driven mostly by its high-profile acquisitions of Chicago cannabis cultivator and retailer Grassroots for $830 million in July, and of Oregon’s Cura Partners for about $400 million in February.
In March, Curaleaf acquired three Arrow Alternative Care dispensaries in Connecticut, including the one at 814 E. Main St. in Stamford, for an undisclosed amount. On Oct. 12 it announced it was rebranding the Arrow facilities – as well as the Grassroots Herbology dispensary in Groton – as Curaleaf dispensaries.
According to CEO Joseph Lusardi, such moves have made Curaleaf the largest national retail dispensary brand in the U.S., with 92 dispensaries, 22 cultivation sites, and over 30 processing sites in 23 states, making it one of the largest multistate cannabis operators in the U.S.
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