Curaleaf expands further and acquires Can4Med

In the press release following the M&A event, Curaleaf CEO Matt Darrin highlighted the strategic importance of this bold move on Curaleafs’ behalf : "This acquisition represents a significant step forward for Curaleaf International. Poland's medical cannabis market is expanding rapidly, and our partnership with Can4Med allows us to better serve patients while driving growth across Europe."

Can4Med founder Maximilian Weinberg also showed enthusiasm regarding the venture :

"We are thrilled that Can4med, a pioneering force in Poland's cannabis market, has joined forces with Curaleaf, the global leader in cannabis. This acquisition marks a significant milestone in our journey, ensuring an unparalleled supply chain that positions us to meet and exceed the demands of the entire Polish market. Partnering with Curaleaf not only reinforces our commitment to quality and accessibility but also signifies a new era of growth and possibilities for both companies and our customers,”

Based in the US, Curaleaf has made various moves in the emerging European medical market over the last three years. Being present in various European countries such as Germany, Malta, Italy and Portugal, the Curaleaf family has rapidly expanded throughout the continent by taking the initiative and following through with a succession of coordinated strategic acquisitions dating from 2021 to their latest deal with Northern Green Canada in March 2024, a purchase made by Curaleaf in order to amplify both the quantity and quality of medical cannabis produced by European subsidiaries.

In 2021, the Massachusetts based conglomerate bought EMMA Life Sciences, the largest vertical integrated independent cannabis company in Europe at the time.

Joseph Bayern, Curaleafs’  Chief Executive Officer at the time, described the addition of EMMAC to the Curaleaf portfolio as a definitive step towards a strong presence in the European medical cannabis market, enabling the mother company to use its American expertise on the other side of the Atlantic Ocean along with facilitating the introduction of Curaleaf products, R&D formulated products, form factor innovations and consumer insights into the European market.

In 2022, Curaleaf successfully strengthened its presence in Europe further by buying up 55% of Four 20 Pharma GmbH, a fully EU-GMP and GDP accredited producer and distributor of  medical cannabis at the forefront of the German medical cannabis market.

Curaleaf International President Miles Worne further explained the larger motives at play behind the companies’ consistent efforts on the continent and their subsequent investment in Four 20 Pharma : "Four 20 Pharma is an ideal asset to accelerate our growth in Germany as the country readies for its conversion from medical cannabis to adult-use. Curaleaf International continues to build our platform in eight markets, and this deal further underscores our aspiration to be a major player in the European market and the global industry leader."

Curaleafs’ decision to invest in Can4Med doesn’t represent just another step in the chain of acquisitions they have made in recent years.

At the current moment, the Polish medical cannabis market is estimated to be worth 2 billion € by 2028, positioning itself at the forefront of the European medical cannabis market with a population of approximately 38 million potential users. According to the Polish Pharmaceutical Chamber, the number of Polish medical cannabis patients is estimated to be around 300,000 by 2026, an impressive estimate for an ex-communist Eastern European country which legalized medical marijuana use in 2018. Just in 2023, 3000 kg of medical cannabis have been distributed to patients across the whole country, indicating a growing acceptance and recognition of the therapeutic uses of marijuana among the population.

Whatever Curaleafs’ future plans are, it is certain that their well timed acquisitions and business acumen have landed them a sturdy position in Europe in 2024. Although unforeseen circumstances can always come into play, Curaleaf holds promise at the moment on the European continent and, if their corporate momentum will last, the industry could be subjected to a major dynamic shift in the following years.

Written by DANIEL CIUREA

pressfoto / Freepik

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