Inflation pressure swelled, and concerns of recession set in. Many believed soaring sales were a sign that cannabis was pandemic proof, and recession proof.īut a few months after the deal closed, wholesale prices started to decline. at the time and one of the oldest adult-use landscapes, might have seemed like a safe bet, both because of current conditions and future potential. Investing in Colorado, the second-largest cannabis market in the U.S. In 2021, the state’s combined adult-use and medical sales grew to more than $2.2 billion, after surging by more than 25% in 2020, the year the COVID-19 pandemic hit. The site, with 36 acres of active production and 66 acres of capacity, would provide Curaleaf “with a high-quality, efficient and low-cost supply of biomass and support our wholesale and retail customers in Colorado and, once interstate commerce is allowed, on a regional scale,” Jordan had said in the announcement. In May 2021, Boris Jordan, executive chairman of the board at Curaleaf, announced the multistate cannabis company’s plans to acquire Colorado's Los Sueños Farms, a $67 million deal for one of the largest legal outdoor cannabis cultivation sites in the U.S.
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