ACRHF - Curaleaf expands market presence with $286M acquisition of Tryke
Curaleaf (OTCPK:CURLF +9.8%) will acquire Tryke Companies, dba Reef Dispensaries, in a $286M cash and stock deal giving Curaleaf a larger presence in Arizona, Nevada, and Utah. Terms call for Curaleaf to pay $40M upfront followed by $75M in equal installments on the first, second, and third anniversaries of the closing. The stock portion of the transaction, 17M subordinate voting shares of Curaleaf, will also be paid in the same way following closing. If EBIDTA targets are exceeded in 2022, an addition 1M shares could be granted. The deal is expected to close in 2H 2022. Tryke operates six dispensaries under the Reef brand: two in Arizona and four in Nevada. Other multi-state operators today: Trulieve (OTCQX:TCNNF +7.7%); Acreage Holdings (OTCQX:ACRHF +9.4%); Cresco Labs (OTCQX:CRLBF +7.6%); Green Thumb Industries (OTCQX:GTBIF +14.5%); and MedMen Enterprises (OTCQB:MMNFF +5.2%). Marijuana growers: Tilray (TLRY +8.7%); Canopy Growth (CGC +4.0%); Cronos Group (CRON +16.8%); and Aurora Cannabis (ACB +6.4%). Find out
For further details see:
Curaleaf expands market presence with $286M acquisition of Tryke