Cannabis company Curaleaf to buy GR Cos. in a cash and stock deal valued at $875 million

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Cannabis company Curaleaf in $875 million cash-and-stock deal for GR Cos.

Massachusetts-based cannabis company Curaleaf Holdings Inc.

said Wednesday it was buying multi-state operator GR Companies Inc. in a deal valued at $875 million in cash and stock. Under terms of the deal, Curaleaf will pay $75 million in cash and provide 102.8 million subordinate voting shares and $40 million worth of shares. The acquisition, which is expected to close in early 2020, will increase Curaleaf's presence to 19 states from 12, including Illinois, which legalized adult-use cannabis in June.

 

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