- U.S. cannabis operator Curaleaf Holdings ( OTCPK:CURLF ) announced Wednesday the completion of its previously announced acquisition of Tryke Companies, a privately held multi-state cannabis company.
- The close of the deal expands CURLF’s footprint to markets in Arizona, Nevada, and Utah with the addition of six retail dispensaries and 30,000 square feet of cultivation.
- The acquisition will be immediately accretive to the company’s EBITDA margins and free cashflows, CURLF Chief Executive Boris Jordan noted.
- “This strategic transaction expands our U.S. presence and yields meaningful benefits for all of our stakeholders,” he added.
- The buyout includes $10M in cash and 2.7M shares paid initially at the close, and additional contingent payments scheduled for 2023.
- The $286M cash and stock deal announced in November sent the shares of U.S. MSOs and Canadian Licensed Producers higher in 2021.
For further details see:
Curaleaf closes Tryke acquisition