Curaleaf Holdings Inc - CURLF stock
Company Profile[edit]
Founded in 2010, Curaleaf Holdings Inc. (OTC: CURLF, CSX: CURA) is a Canada-based provider of consumer cannabis products for the global cannabis market. The company operates via Cannabis Operations and Non-Cannabis Operations segments. The Cannabis operations segment ensures the production and distribution of cannabis products through retail and wholesale channels. It facilitates accessibility for both adult-use and medical markets via its portfolio of brands, which include Curaleaf, Grassroots, and Select. The Non-Cannabis Operations segment advances professional services, including cultivation, processing, intellectual property licensing, retail know-how, back office administration, real estate leasing services, and lending facilities to medical and adult-use cannabis licensees according to management service agreements.[1] The company owns and operates 148 dispensaries and 29 cultivation sites across 19 states, including Arizona, Illinois, New Jersey, and New York. Its cultivation capacity stretches 4,400,000 square feet, while its wholesale dispensary accounts sum up to a total of 2,200.[2] Curaleaf International is Europe’s largest vertically integrated company with a robust supply and distribution footprint cutting across the European market. Curaleaf’s shares are listed on the CSE under the CURA symbol and on OTCQX markets under the CURLF ticker symbol. The firm was incorporated on November 14, 2014, and has its headquarters in Wakefield, Massachusetts.[3]
Stock[edit]
The company stock is set to begin trading on Canada's TSX exchange on December 14, 2023, as all requirements for listing have been met.[4]
Corporate Operations[edit]
Strategy[edit]
The diversified holding company is dedicated to supplying the legal cannabis market with quality products and services while erecting trusted national brands. The company is committed to topping ranks as the industry’s leading entity in education and advancement via research and advocacy. It operates as a life science company that develops full-cycle cannabis operations with significant competence in medical cannabis research, cultivation, manufacturing, and dispensing. Through its team of industry innovators, medical experts, pharmacists, and physicians, Curaleaf has established a portfolio of branded cannabis-centered therapeutic offerings and an iconic web of branded retail outlets. Its strategy targets highly-populated states such as Arizona, Florida, New York, and others to advance optimal markets for its finished products. The firm leverages its ample research and development capabilities to produce and roll out quality cannabis products with high safety standards, efficiency, and customer care. Its brand strategies aim to build consumer trust and loyalty in medical and adult-use markets.[3]
Products[edit]
Curaleaf offers flowers, flower pods, pre-rolls, and dry-herb vaporizer cartridges; concentrates for vaporizing, like pre-filled vaporizer cartridges and disposable vaporizer pens; and concentrates for dabbing, including distillate mints, droppers, capsules, topical balms and lotions, tablets, tinctures, and edibles. Most of the company's subsidiaries are vertically integrated, which ensures efficient supply chain management from seed to sale. The firm also produces and distributes hemp-based CBD products.[5]
Dispensaries[edit]
Curaleaf operates 146 dispensaries in 17 states across the U.S. In addition, they have 21 cultivation sites.[6]
Business Evolution[edit]
Curaleaf is one of the founding professionally managed companies to enter the booming U.S. legal cannabis industry. It kicked off as a medical device company and was the first to develop and patent a medical cannabis vaporizing system that administered single-metered doses of cannabis medicine to patients. The company was incorporated on November 13, 2014, as Lead Ventures, Inc. under the laws of British Columbia, Canada. It later changed its name to Curaleaf Holdings, Inc., as it combined business operations with Lead Ventures, Inc., which ended in October 2018.[3]
Closings[edit]
On January 26, 2023, the company announced that it had shut down most of its operations in California, Colorado, and Oregon, effective January 2023. The company clarified that the move was part of its strategy to streamline business and cut costs. Due to the action, the firm slashed its payroll by 10% and expects approximately $60M in savings on gross run-rate expense by the end of 2023.[7]
Leadership[edit]
Management Team[edit]
Matt Darin, CEO
- Has over seven years of cannabis industry experience in t
- He is the former Founder, and COO of Grassroots Cannabis, which he grew from scratch to become the biggest privately-held multi-state operator with over 70 licenses to grow, process, and distribute cannabis in 12 states in the U.S. Curaleaf acquired Grassroots in July 2020
- Matt was instated as President of Curaleaf’s Central Region and was responsible for the execution of the company’s strategy in eight states
- Was also a Founder and Principal with Frontline Real Estate Partners, an active commercial RE firm in the Midwest
- Has a Bachelor of Science with honors in Business Administration – Management Information Systems and a Bachelor of Science with honors in Accounting from the University of Illinois
Ed Kremer, CFO
- His career stretches over 20 years of leadership, growth, and restructuring experience.
- Has managed several effective teams from start-ups to publicly traded companies across manufacturing, technology, wholesale distribution, and retail environments
- An experienced public CFO and leader who has worked in several companies, including Oliver Peoples Oakley and Beats by Dre,
- Responsible for Curaleaf’s Finance Department and other functions such as overseeing Financial Planning & Analysis/Analytics, IT, Insurance & Risk, Investor Relations, etcetera.
Other management team members include Camilo Lyon, Chief Investment Officer; Mitch Hara, Chief Strategy Officer; and Peter Clateman, Chief Legal Officer.[8]
- ↑ Company Info Curaleaf Holdings Inc. – WSJ. Accessed on February 25, 2023.
- ↑ ir.curaleaf.com/overview – Company Overview. Accessed on February 25, 2023.
- ↑ 3.0 3.1 3.2 OVERVIEW OF THE COMPANY - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2020, pages 3 & 4. Retrieved on February 25, 2023.
- ↑ newswire.ca. Curaleaf Announces Fulfilment of TSX Listing Conditions and Date of Commencement of Trading on the TSX. December 12, 2023.
- ↑ Curaleaf Holdings Inc. Company Profile – Seeking Alpha. Accessed on February 25, 2023.
- ↑ ir.curaleaf.com. Overview. Retrieved on 12/2/2023.
- ↑ Curaleaf Announces Closure of Operations in California, Colorado, and Oregon – Yahoo Finance. January 26, 2023.
- ↑ Curaleaf Management Team – Curaleaf Holdings Inc. website. Read on February 26, 2023.
OTC Symbol: CURLF | OTC Tier: OTCQX International
