Cannabis giant Curaleaf enters Colorado by buying edibles firm

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Multistate marijuana operator Curaleaf Holdings on Monday said it will expand into the Colorado market by buying BlueKudu, a Denver-based producer of cannabis chocolates and gummies.

Financial terms were not disclosed.

The acquisition will give Massachusetts-based Curaleaf a foothold in one of the biggest marijuana markets in the country.

“Colorado is the second-largest cannabis market in the U.S., with sales surpassing $1.7 billion in 2019,” Curaleaf CEO Joe Lusardi said in a statement.

When the deal is closed, Curaleaf will operate an 8,400-square-foot infusion kitchen and processing facility in Denver.

BlueKudu was founded in 2011 and, five years later, announced a $2.5 million expansion.

Lusardi noted that the acquisition will allow Curaleaf to expand its Select marijuana vaping brand in Colorado.

Curaleaf acquired Select’s parent company, Oregon-based Cura Cannabis, on Feb. 1.

Curaleaf trades on the Canadian Securities Exchange as CURA and on the U.S. over-the-counter markets as CURLF.

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