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Curaleaf Acquires Utah Cannabis Retailer Deseret Wellness

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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Marijuana Retail Report, is a national daily online trade publication serving retailers of marijuana products and accessories. News and information are geared strictly to select retail channels, with distribution limited to licensed collectives, recreational retailers, accessories retailers, and wholesalers.


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