Cannabis multistate operators Curio Wellness and Ascend Wellness Holdings each are entering new states through a strategic manufacturing and distribution partnership.
Under terms of the deal announced Monday:
- New York-based Ascend will manufacture and distribute Curio’s products in Illinois, Massachusetts and New Jersey.
- Maryland-headquartered Curio will do the same for Ascend’s Ozone line of cannabis products in Maryland and Missouri.
The agreement allows both companies to use existing intellectual property and brand value in new markets without spending investing a lot of capital, according to a news release.
Curio Wellness CEO Michael Bronfein said the partnership will combine the company’s scientifically derived products with Ascend’s manufacturing, sales and distribution network in three of the largest regulated marijuana markets in the United States.
“This partnership represents a forward-thinking approach to operational strategy, demonstrating how collective efforts can expand market reach and create a greater return from brand development investments,” Bronfein said in a statement.
Ascend CEO John Hartmann said collaboration enables the cannabis industry to flourish, and the company’s partnership with Curio broadens its market exposure without investing significant capital.
“Through Curio’s manufacturing capabilities, we will gain production and distribution leverage in Missouri and Maryland,” Hartmann said.
“Together, we will improve consumer access and continue to pave the way for the future of cannabis health and wellness.”
Curio is a Current Good Manufacturing Practice (CGMP)-certified vertically integrated cannabis company with operations in Maryland and Missouri.
Ascend is a vertically integrated operator with assets in Illinois, Maryland, Michigan, Ohio, New Jersey and Pennsylvania.
