Curaleaf Holdings has completed the buyout of the remaining 45% stake in Four 20 Pharma GmbH, making the Paderborn-based medical cannabis producer and distributor a wholly owned subsidiary of the international cannabis giant.
The transaction closes out a deal that began in September 2022, when Curaleaf paid approximately €19.7 million for a 55% majority stake. Financial terms for the remaining stake were not disclosed.
Four20 holds full EU-GMP and GDP certification and operates a distribution network serving pharmacies, nursing homes, and research institutions across Germany and select European markets.
The company, which employs 110 people, launched its core 420NATURAL brand in 2020 and has since built what Curaleaf describes as a seed-to-patient supply chain, drawing on cultivation assets in Portugal and Canada.
“Completing this buyout of the remaining stake in Four20 reinforces our commitment to Europe,” said Boris Jordan, Chairman and CEO of Curaleaf.
“ Four20’s leadership in production, compliance, and distribution allows us to expand patient access to medical cannabis while driving innovation across the international market.”
Torsten Greif, co-founder and Managing Director of Four20, also welcomed the move: “Joining the Curaleaf family as a fully integrated subsidiary marks an exciting new chapter. We built this company on an uncompromising commitment to quality, compliance, and patient care, values that align perfectly with Curaleaf’s international mission.”
The full acquisition deepens Curaleaf’s position in Europe’s largest medical cannabis market, and Curaleaf has already extended the Four20 brand into the United Kingdom and Poland, and intends to use the German operation’s compliance and production blueprint as a template for further international expansion.
It marks the latest in a string of M&A developments across Germany and the wider European continent, seeing larger North American companies expand their operations in the flourishing market.
The post Curaleaf Completes Full Acquisition of Germany’s Four 20 Pharma appeared first on Business of Cannabis.
Continue reading...
The transaction closes out a deal that began in September 2022, when Curaleaf paid approximately €19.7 million for a 55% majority stake. Financial terms for the remaining stake were not disclosed.
Four20 holds full EU-GMP and GDP certification and operates a distribution network serving pharmacies, nursing homes, and research institutions across Germany and select European markets.
The company, which employs 110 people, launched its core 420NATURAL brand in 2020 and has since built what Curaleaf describes as a seed-to-patient supply chain, drawing on cultivation assets in Portugal and Canada.
“Completing this buyout of the remaining stake in Four20 reinforces our commitment to Europe,” said Boris Jordan, Chairman and CEO of Curaleaf.
“ Four20’s leadership in production, compliance, and distribution allows us to expand patient access to medical cannabis while driving innovation across the international market.”
Torsten Greif, co-founder and Managing Director of Four20, also welcomed the move: “Joining the Curaleaf family as a fully integrated subsidiary marks an exciting new chapter. We built this company on an uncompromising commitment to quality, compliance, and patient care, values that align perfectly with Curaleaf’s international mission.”
The full acquisition deepens Curaleaf’s position in Europe’s largest medical cannabis market, and Curaleaf has already extended the Four20 brand into the United Kingdom and Poland, and intends to use the German operation’s compliance and production blueprint as a template for further international expansion.
It marks the latest in a string of M&A developments across Germany and the wider European continent, seeing larger North American companies expand their operations in the flourishing market.
The post Curaleaf Completes Full Acquisition of Germany’s Four 20 Pharma appeared first on Business of Cannabis.
Continue reading...
