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.
“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.
For analysis and in-depth looks at the investment trends and deals driving the cannabis industry forward, sign up for our premium subscription service, Investor Intelligence.