Curaleaf closes Tryke acquisition

Oct. 05, 2022 9:27 AM ETCuraleaf Holdings, Inc. (CURLF)By: Dulan Lokuwithana, SA News Editor6 Comments

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Maksim Labkouski

  • 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.

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