Curaleaf has finalized its $16 million acquisition of Canadian hashish producer Northern Inexperienced Canada (NGC), serving to the corporate safe its foothold in “key European markets.”
Hashish enterprise mentioned final month that Curaleaf had introduced plans to amass NGC, one of many few Canadian hashish producers to carry EU GMP accreditation, which permits it to promote its merchandise throughout Europe.
The deal noticed Curaleaf present an preliminary cost of its subordinated voting shares valued at $16 million, with a acquire to be paid in 2025 based mostly on NGC's efficiency this 12 months, half in money and the half in additional voting shares.
“We’re excited to formally welcome NGC into the Curaleaf household of worldwide manufacturers,” mentioned Boris Jordan, Founder and Government Chairman of Curaleaf.
“That is an extremely vital deal for our worldwide enlargement technique, as we will strengthen our provide of high-quality EU-GMP licensed flowers instantly to key European markets, in addition to enter the fast-growing markets of Australia and New Zealand.”
https://businessofcannabis.com/curaleaf-completes-16m-acquisition-of-northern-green-canada/
