Massachusetts-based Curaleaf, a vertically integrated cannabis company, agreed to acquire Portland, Oregon-based Cura Partners in an all-stock deal worth 1.27 billion Canadian dollars ($949 million).
Curaleaf will issue 95.6 million subordinated voting shares, giving Cura a roughly 16% stake in the company.
The deal is the latest in a string of recent mega-deals in the cannabis space, including Harvest Health & Recreation’s $850 million acquisition of Verano Holdings and Cresco’s agreement to acquire Canadian distributor Origin House for CA$1.1 billion.
Cura’s Select brands are available in more than 900 retailers, mainly in Western states such as California, Oregon, Arizona and Nevada.