Less than three weeks after announcing an ambitious $110 million expansion into Virginia, where adult-use marijuana sales are expected to begin sometime next year, Curaleaf Holdings’ purchase of competitor The Cannabist Company Holdings’ assets in the state is off.
The reason why New York-based Curaleaf won’t purchase a vertically integrated medical cannabis permit after all? A competing offer for a total of $160 million materialized, Curaleaf said in a press release Friday.
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The Curaleaf deal, finalized Dec. 1, was set to close in the first quarter of 2026 and included Cannabist’s five existing stores in the Richmond, Virginia, area and an 83,000-square-foot cultivation operation, with the right to open a sixth store.
But on Thursday, the same day President Donald Trump issued an
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