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Curaleaf to Acquire Majority Stake in Germany´s Four 20 Pharma
Friday 12 August 2022

US-based cannabis company Curaleaf Holdings, Inc's (CSE: CURA) (OTCQX: CURLF) Curaleaf International Holdings Ltd European holding company has signed a definitive agreement to acquire a 55% stake in German cannabis producer Four 20 Pharma GmbH, the company said.

Four 20 Pharma is a fully EU-GMP and GDP licensed German producer and distributor of medical cannabis with its own product line.

Curaleaf said the partnership creates a strategic pathway for it to acquire complete control of Four 20 Pharma within two years of the commencement of adult use in Germany and ensures alignment between Curaleaf and Four 20 Pharma's current management team to rapidly build a best-in-class German business and a strong platform for Germany's eventual adult use market.

Germany currently represents the largest medical cannabis market in Europe, with a total addressable market of over EUR 200m in 2022 and expected to grow to nearly EUR 1bn by the end of 2024 via adult-use legalization, which is slated to begin in late 2023 or early 2024.

Four 20 Pharma is among the largest cannabis operators in Germany, with a greater than 10% market share.

Curaleaf Holdings is a international provider of consumer products in cannabis. In the United States, Curaleaf currently operates in 22 states with 136 dispensaries, 26 cultivation sites, and employs over 5,700 team members.

Curaleaf International is the largest vertically integrated cannabis company in Europe with a unique supply and distribution network throughout the European market, bringing together pioneering science and research with cultivation, extraction and production.
Date Published: 12/08/2022