Curaleaf Adds Fourth Dispensary In N.J. With Boonton Site Acquisition
New Jersey’s cannabis industry is still in a growth and expansion phase
The cannabis industry’s consolidation in New Jersey continued when Curaleaf Holdings Inc., a provider of consumer and medical cannabis products, announced it had acquired an equity stake and certain operating rights in Boone Town Provisions, a dispensary at 677 Myrtle Ave. in Boonton.
The purchase expands Curaleaf’s footprint to four dispensaries in the state and 191 nationwide. The storefront is expected to be immediately accretive to the company’s New Jersey business.
“Boone Town Provisions is one of the top-performing dispensaries in New Jersey,” said Boris Jordan, chairman and CEO of Curaleaf. “We have acquired our interest in the dispensary at an attractive valuation that aligns with our disciplined approach to capital allocation. The acquisition strengthens our position in New Jersey, allows us to increase our vertical position, adds a proven, high-performing location to our retail footprint, and expands access to our brands for more customers in the state.”
Opened in July 2024, the 6,400-square-foot store is on a busy stretch of Myrtle Avenue with few dispensaries nearby.
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