US (CO): Curaleaf to acquire Los Sueños

Curaleaf signed definitive documents to acquire the Los Sueños Farms, one of the largest outdoor grows in Colorado. The proposed transaction includes three Pueblo, Colorado outdoor cannabis grow facilities covering 66 acres of cultivation capacity, including land, equipment and licensed operating entities, an 1,800 plant indoor grow and two retail cannabis dispensary locations serving adult-use customers.

Boris Jordan, Executive Chairman of Curaleaf, stated, "The acquisition of Los Sueños provides Curaleaf with outdoor cannabis cultivation expertise at commercial scale and establishes our foothold in the $2.2 billion Colorado market. This deal furthers our strategy of constructing low-cost supply chains that will secure healthy margins and position us for interstate commerce when it comes. Ultimately, our goal is to cultivate cannabis at less than $100 per pound, and this acquisition is a significant step in the right direction."

Joseph Bayern, CEO of Curaleaf, commented, "The acquisition of Los Sueños will add over 50,000 pounds per year of low-cost wholesale capacity to Curaleaf's footprint in Colorado, which we intend to double to over 100,000 pounds, representing a significant market share. As the largest producer of biomass in the state, this facility will also fuel the further deployment of our Select product line, which can already be found in 230 independent dispensaries in the state."