One of the nation’s largest marijuana companies has officially bought one of the nation’s largest outdoor marijuana plantations.
Coralif, a marijuana company publicly shared with commercial holdings across America and Europe, just announced that it has completed the acquisition of Los Sueños Farms, Colorado’s largest outdoor marijuana cultivation operation. the purchase, It is worth 67 million dollars Cash, stock and presumed debt, which were first announced in May, but did not close until this month, according to Curaleaf. Two Pueblo dispensary licenses previously held by Los Sueños were included in the deal.
Under the agreement, 61 percent of the sale price will be paid in Curaleaf shares, 29 percent in cash and 10 percent in acquired debt. According to Curaleaf, Los Sueños founder Bob DeGabrielle will continue to oversee the farm and “take responsibility” for the company’s wholesale and retail operations.
Located in Pueblo County, outdoor marijuana cultivation consists of 66 acres of land with an additional 1,800 plants grown in an on-site greenhouse facility. Los Sueños originally accepted an acquisition offer from Shwazze, then called Medicine Man Technologies, in 2019. However, Schwazze finished the deal in 2020 for undisclosed reasons.
Los Sues joins over 130 dispensaries and growing operations across 23 states Currently owned by Curaleaf, as well as a few brands of soaked products, including Blue Kudu, a Colorado Food Maker Purchased in 2020 for an undisclosed amount. Curaleaf also launched Select Cannabis, a line of fumigant and food products, in Colorado earlier this year — after Get the Native Brand Select in Oregon.
Curaleaf takes charge during a busy time for outdoor marijuana growing. Named Kruptopper With the marijuana industry, fall harvest — a major factor in retail marijuana supply, wholesale pricing and infused product materials — is just around the corner, but the Massachusetts-based company has taken the step with its eyes beyond 2021.
According to CEO Boris Jordan, Coralef bought Los Suenos to cement its position as a national supplier of marijuana if the United States allows interstate trade – a topic Congress continues to address.
“We are very excited to close the Los Sueños acquisition transaction,” he says in a statement. “The vertical integration of our Colorado business significantly enhances Curaleaf’s market presence in the second largest cannabis market in the United States.” “This transaction provides Curaleaf with a high-quality, efficient, and low-cost supply of biomass to support our wholesale and retail customers in Colorado, and once interstate commerce is permitted, on a regional scale.”