Curaleaf to Acquire Ohio Grown Therapies’ Licenses

Curaleaf announced it has entered into an agreement that grants it an option to purchase Ohio Grown Therapies medical cannabis cultivation and processing licenses. The value of the deal is estimated at $20 million.

Curaleaf said it can complete the acquisition of the licenses and the lease in the second half of 2019. The full consideration will be paid upon completion of certain milestones.

Ohio Grown Therapies has received preliminary cultivation and processing licenses from the Ohio Department of Commerce. The company is working on building a 34,000-square-foot facility in Johnstown, which includes 15,000 square feet for two-tier cultivation and 7,500 square feet for processing.

This is Curaleaf’s second acquisition in less than a week. On May 1, the company said it would buy Cura Partners, the owner of the Select cannabis wholesale brand.