Curaleaf Holdings, one of the largest vertically integrated cannabis operators in the United States, has announced its acquisition of Deseret Wellness, a leading cannabis retailer in Utah. With this acquisition, Curaleaf has become the largest cannabis retailer in Utah.
The acquisition was completed for an undisclosed amount and includes Deseret Wellness’ two operating dispensaries and a third dispensary that is currently under construction. The move is expected to significantly expand Curaleaf’s presence in Utah, which is one of the fastest-growing cannabis markets in the country.
Curaleaf CEO, Joe Lusardi, expressed his excitement about the acquisition, stating that it aligns with the company’s strategy of expanding its retail presence in key markets across the country. He also emphasized Curaleaf’s commitment to providing high-quality cannabis products and exceptional customer service to patients in Utah.
Deseret Wellness has been a leader in the Utah cannabis market since its inception and is known for its high-quality products and knowledgeable staff. With Curaleaf’s acquisition, the company’s patients can expect even more product offerings and a wider range of services.
The Utah cannabis market is poised for significant growth in the coming years, and Curaleaf’s acquisition of Deseret Wellness places it in a strong position to capitalize on this growth. As more states continue to legalize cannabis, Curaleaf’s focus on strategic acquisitions and expanding its retail presence is expected to drive long-term success for the company and its shareholders.