Curaleaf Holdings closes on acquisition of Ontario’s Northern Green Canada

| Sarah Clark

US-based cannabis company Curaleaf Holdings Inc., has closed on its acquisition of Northern Green Canada. This Canadian licensed cannabis producer focuses primarily on EU-GMP product certification for the international market.

First Licensed in April 2018, North Green Canada (NGC) is based in Brampton, Ontario and operates a medical cannabis platform, and has sold into recreational markets. The majority of the company’s sales in recent years have been through the export market. 

NGC has supplied high THC, non-irradiated cannabis flower to the German, Australian, Israeli, and New Zealand markets. The acquisition gives Curaleaf more opportunities to advance on the international stage. NGC has supplied Curaleaf’s German Brand Four20 Pharma.

“We are thrilled to welcome NGC formally to the Curaleaf family of global brands,” said Boris Jordan, Founder and Executive Chairman of Curaleaf. “This is an incredibly important deal for our international expansion strategy, as we’ll be able to bolster our supply of high quality EU-GMP certified flower immediately to key European markets as well as enter the fast-growing markets of Australia and New Zealand.”

In its most recent quarterly filing, Curaleaf reported net revenue of $345.3 million and a net loss attributable to Curaleaf Holdings, Inc., excluding discontinued operations, of $57.7 million.

In 2020, NGC put out a press release saying they were the first privately-owned Canadian licensed producer of cannabis to have EU GMP certification and referred to sales in Germany and Israel, as well as pending agreements in the final stages of completion in the U.K., Poland, Denmark, Portugal, Australia and New Zealand. 

Curaleaf is listed on the Canadian Securities Exchange under the symbol CURA and trades on the OTCQX market under CURLF.

Featured image via Google Maps.