July 17, 2019 / 12:40 PM / 2 months ago

Cannabis retailer Curaleaf to buy Grassroots for $875 mln

July 17 (Reuters) - U.S. cannabis retailer Curaleaf Holdings Inc said on Wednesday it would acquire privately held GR Companies Inc (Grassroots) in a cash and stock deal valued at about $875 million.

The deal will expand Curaleaf’s presence to 19 states from 12 at present, and the combined entity will have 131 dispensary licences, 68 operational locations and 20 cultivation sites, the company said.

Reporting by Arundhati Sarkar in Bengaluru; Editing by Rashmi Aich

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