Curaleaf is not wasting any time as Germany inches closer to legalization. The company has completed its agreement to acquire a 55 percent stake in Four 20 Pharma GmbH, a licensed producer and distributor of medical cannabis in Germany. The transaction solidifies Curaleaf’s pathway to acquire complete control of the company two years following the commencement of adult-use, which is expected to launch in early 2024.
Four 20 Pharma is a fully EU-GMP & GDP licensed producer and distributor founded in 2018. Headquartered in Paderborn, Germany, the company currently employs forty-one people.
This acquisition comes after Curaleaf International established a presence in Poland this August, following previous moves into Spain, Portugal, Italy, and the United Kingdom.
Miles Worne, President of Curaleaf International, said, “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.”