Curaleaf Holdings, Inc. announced the completion of its agreement to acquire a 55% stake in Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis.
Boris Jordan, Executive Chairman of Curaleaf, stated, "We are pleased to complete the transaction with Four 20 Pharma, and I am personally thrilled to welcome Torsten and Thomas to the Curaleaf family. Our early focus on Europe has given Curaleaf a formidable strategic asset and a strong foundation in one of the industry's critical global markets. Curaleaf is the only U.S. MSO uniquely positioned to capitalize on the opportunity."
With the close of the transaction, Curaleaf has solidified a strategic pathway to acquire complete control of Four 20 Pharma after two years of the commencement of adult-use in Germany, which is slated to begin in early 2024.
Miles Worne, President of Curaleaf International, said, "Four 20 Pharma is an ideal asset to accelerate our growth in Germany as the country readies for its conversion from medical cannabis to adult-use. Curaleaf International continues to build our platform in eight markets, and this deal further underscores our aspiration to be a major player in the European market and the global industry leader."
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