Curaleaf Acquires Utah Cannabis Retailer Deseret Wellness
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The deal was for $20 million in cash and stock
Curaleaf Holdings Inc. said Wednesday that it agreed to acquire Utah-based cannabis retail operator Deseret Wellness for $20 million in cash and stock.
The U.S.-based, Canadian Securities Exchange-listed cannabis dispensary said it would gain through the acquisition three of Deseret Wellness’s retail dispensaries in City, Provo and Payson in Utah. The stores, which together generate $14 million in annualized revenue, would expand its existing retail footprint in the state and bring its total store count to 150 across the U.S., the company said.
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