Curaleaf acquires Select, a leading cannabis wholesale brand in the U.S.

Goodmans LLP represented Cura Partners, Inc., owners of Select – the leading Cannabis wholesale brand in the United States – in connection with a definitive agreement to have its state-regulated cannabis business acquired by Curaleaf Holdings Inc., a leading vertically integrated cannabis operation in the United States, in an all-stock transaction valued at C$1.27 billion or US$948.8 million.

The acquisition includes Cura’s Select brands’ manufacturing, processing, distribution, marketing and retailing operations and all adult-use cannabis products marketed under the Select brand name, including all intellectual property.

The transaction was subject to customary closing conditions, regulatory approvals, Cura stockholder approval, and the receipt of an agreement from the holders of Cura's convertible debentures with respect to the conversion of such debentures into equity. The transaction was unanimously approved by independent special committees of the Boards of Directors at both companies.