Quick Take
Curaleaf Holdings (CURLF) announced it has agreed to acquire Acres Cannabis for $70 million.
Acres operates cannabis cultivation facilities, production and extraction labs as well as a dispensary in the state of Nevada.
CURLF is reaching for greater scale through vertical integration. This is an ongoing trend in the cannabis industry and one that will produce dominant firms within each state and region.
Target Company
Las Vegas, Nevada-based Acres was founded in 2014 to cultivate cannabis in its 37-acre farm located in Nevada and distribute cannabis and related products to consumers