Curaleaf Holdings, Inc. (CNSX:CURA) signed definitive documents to acquire Los Sue?os Farms LLC for $75 million on May 17, 2021. Total base consideration for the proposed acquisition is approximately $49 million for the Los Sue?os operating companies and $18 million for the real estate and farm assets. Total consideration of $67 million to be paid 61% in Curaleaf subordinate voting shares, 29% in cash at closing, and 10% in assumed debt maturing in five years. Additional contingent consideration of up to $8 million in stock will be paid based upon operating cash flow-based targets for 2022. As per the article of August 10, 2021, potential earnout of up to $4 million, to be paid in 2023 based on operating cash-flow based targets for 2022. All SVS that may be issued pursuant to the definitive agreements will be subject to contractual restrictions on resale for a period starting on the date of their issuance and ending on the 5th anniversary of the closing. The proposed transaction has been unanimously approved by the Curaleaf board of directors and is expected to close upon regulatory approvals. The transaction is expected to close in late 2021.
Curaleaf Holdings, Inc. (CNSX:CURA) completed the acquisition of Los Sue?os Farms LLC on October 4, 2021. Bob DeGabrielle will continue to oversee the Los Sue?os operation and will take responsibility for Curaleaf's Colorado wholesale and retail businesses.