Curaleaf Seals Grassroots Acquisition In Blockbuster Pot Deal

Law360 (July 23, 2020, 5:13 PM EDT) -- Marijuana cultivator and dispensary chain Curaleaf said it became the world's largest cannabis company Thursday, closing a blockbuster acquisition of Grassroots despite last-minute revisions to the deal that prompted a shareholder lawsuit.

The marriage of Curaleaf, the nation's largest public marijuana company, and Grassroots, the largest private operator, creates a juggernaut spanning 23 states, with nearly 90 operating dispensaries and 1.6 million square feet of cultivation capacity. Analysts have estimated the deal is worth roughly $700 million.

The deal significantly expands Massachusetts-based Curaleaf's presence in the Midwest, folding in roughly 50 dispensary licenses to a total of 135 and boosting its...

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