CURLF - Beyond Europe And North America: Curaleaf CEO On Cannabis Markets In Australia New Zealand And Israel | Benzinga
While much is known about the cannabis markets in Europe, the USA, and Canada, the real cash cows might lie in emerging regions. In an exclusive discussion with Benzinga Cannabis. Juan Martinez, head of Curaleaf International Holdings (OTC: CURLF), explored the strategic expansion into Australia, New Zealand and Israel and the potential these markets hold.
The Australian Market
The Australian market is a key focus for Curaleaf. Martinez highlights that the Australian cannabis market is twice the size of Germany's, already boasting over half a million patients. "Australia is a very attractive market. Not a lot of people realize that the Australian market is two times the size of the German market today," Martinez said. "We believe there are over 500,000 patients in Australia, which is a significant number compared to Germany's 200,000 patients."
Curaleaf's acquisition of Northern Green Canada (NGC) has been instrumental in facilitating its business operations in Australia. "Curaleaf, through the acquisition of NGC, is already doing considerable business in Australia," Martinez explained. This acquisition enables leveraging NGC's established infrastructure and expertise to penetrate the Australian market effectively.
One of the significant advantages of the Australian market is the regulatory environment, which is more permissive compared to Europe. "The benefit with Australia is that they opened up the ecosystem for clinics and telemedicine companies, making it easier for doctors to get educated and onboard to prescribe cannabis. ...