Launch of Curaleaf International driven by the liberalisation of cannabis accelerating across Europe (2024)

London 1 November 2021 – Curaleaf International (the “Company”) (formerly EMMAC Life Sciences Group), part of Curaleaf Holdings (CNSX:CURA), Europe’s largest vertically integrated cannabis company, is pleased to announce its official rebrand to the European market. It has been three years to the day since the UK Government’s landmark decision to legalise cannabis-based products for medicinal use, paving the way for further significant developments to the cannabis sector. In this time Curaleaf International has experienced exponential growth in cannabis revenues, as the demand for premium medicinal cannabis continues to grow.

Curaleaf International’s cannabis flower products and extracted cannabis-based products now supply five separate markets, including Germany, Europe’s largest market for medicinal cannabis which is expected to be worth over €840 million by 20251. In the UK, specifically over the last 12 months, the number of patients using the Company’s products have increased fivefold.

Building on the momentum within the European medicinal cannabis market, Curaleaf International expects to see significant regulatory change across Europe for adult use (recreational) cannabis over the coming years with expectations that the total European cannabis market will be worth €3.2 billion by 20251. Curaleaf International expects the trends to follow that of Canada and the USA, which both started with the legalisation of medicinal cannabis before moving to legalise cannabis for adult use. With a population of approximately 740 million people, Europe presents a greater market size than that of North America.

The potential commercial impact of cannabis legalisation in Europe is significant. One in 10 Europeans use cannabis every year, while a quarter of people admit to having used cannabis at least once in their lifetime. The annual sales in illicit market cannabis are estimated at around €11 billion1. As highlighted in The European Cannabis Report: 6th Edition1, it is projected that sales of adult-use cannabis will reach €200 million by 2023, coming close to €800 million in 2025. Taking into account growth in the recreational sector due to decreasing stigma and ease of access, Prohibition Partners increased their total market estimate from €800 million to €3.2 billion by 20251.

Launch of Curaleaf International driven by the liberalisation of cannabis accelerating across Europe (1)

The Company expects that over the next three to four years significant regulatory changes will occur across the continent. Recent progress has notably occurred in Switzerland, the Netherlands, Italy and Germany. Since May 2021, Switzerland allows the sale of adult use cannabis under a trial basis. In Zurich, the country’s largest city, consumers will be allowed to buy cannabis products from pharmacies and social clubs.3 In the Netherlands, 10 licences have been issued for a recreational cannabis pilot project to supply 79 “coffee shops” in 10 municipalities. In Germany, the largest market in Europe for medical cannabis, the likely new coalition Government under the SPD, Greens and FDP parties are all in favour of legalising adult use cannabis. Additionally, Italy could be the first European nation to make adult use cannabis legal. The country is due to have a referendum proposing the legalisation of adult use cannabis in 2022, with an expected result of 57% voting in favour of legalising4, the potentially €8 billion market presents a lucrative opportunity for first movers such as Curaleaf International.

With the anticipated regulatory changes across Europe, Curaleaf International believes this is a pivotal moment for the European cannabis industry. The Company is uniquely positioned within Europe with a fully vertically integrated model, handling every aspect of the process from seed to shelf. The Company has two operating EU-GMP processing facilities and import and distribution capabilities in place in the UK and Germany.

Commenting on the European opportunity, Antonio Costanzo, CEO of Curaleaf International, said: “We have seen good growth in medicinal cannabis across Europe, and building on this momentum, the official launch of Curaleaf International has been designed to create a European cannabis platform to capitalise on the rapidly emerging opportunities that are accelerating in line with regulatory change and cultural acceptance. The landscape in Europe is changing and we can see similar clear patterns to the progress in North America for adult use cannabis. As the only established fully integrated cannabis company in Europe, our first mover advantage gives us complete control over the supply chain, and this, coupled with our science led approach leaves Curaleaf International best positioned to capitalise on this potentially enormous market.”

Launch of Curaleaf International driven by the liberalisation of cannabis accelerating across Europe (2024)

FAQs

Launch of Curaleaf International driven by the liberalisation of cannabis accelerating across Europe? ›

Commenting on the European opportunity, Antonio Costanzo, CEO of Curaleaf International, said: “We have seen good growth in medicinal cannabis across Europe, and building on this momentum, the official launch of Curaleaf International has been designed to create a European cannabis platform to capitalise on the rapidly ...

Is Curaleaf in Europe? ›

At Curaleaf International, we empower patients and healthcare professionals to unlock the transformative power of medical cannabis. As market leaders in the UK and Europe, we focus on quality and delivering safe and effective care for all.

Is Curaleaf a growing company? ›

Boris Jordan, Executive Chairman of Curaleaf, stated, "Consistent with our expectations, first quarter revenue grew 2% to $339 million, and we achieved a 48% adjusted gross margin. Adjusted EBITDA margin(1) was $77 million or 23% of sales, expanding 40bps from last year.

Who owns Curaleaf? ›

Since acquiring majority control of Curaleaf in 2015, Mr. Jordan has been impactful in the Company's emergence as an industry leader. Mr.

How many locations does Curaleaf have? ›

Its vertically integrated operations, which encompass 150 dispensaries and 21 cultivation sites, have propelled Curaleaf to become a leading authority in the cannabis industry, appealing to both medical patients and recreational users.

What is the previous name of Curaleaf? ›

History. Curaleaf was founded in 2010 under the name PalliaTech.

Is Curaleaf legit in the UK? ›

Yes, Curaleaf are legal and are regulated by the Care Quality Commission in the UK and Healthcare Improvement Scotland, ensuring they adhere to the required standards and regulations for providing medical cannabis treatments.

What is the controversy with Curaleaf? ›

A recent National Labor Relations Board ruling found that New York-based multistate operator Curaleaf “refused and neglected” to recognize the union and work on a contract, according to the Republic. The company has appealed the ruling in federal court, MJBizDaily reported last week.

Who is the largest shareholder of Curaleaf? ›

Largest shareholders include MSOS - AdvisorShares Pure US Cannabis ETF, AdvisorShares Investments LLC, PHSTX - PUTNAM GLOBAL HEALTH CARE FUND Class A Shares, CNBS - Amplify Seymour Cannabis ETF, Albert D Mason Inc, PUTNAM VARIABLE TRUST - Putnam VT Global Health Care Fund Class IA Shares, MAI Capital Management, ...

Why is Curaleaf leaving California? ›

We believe these states will represent opportunities in the future, but the current price compression caused by a lack of meaningful enforcement of the illicit market prevent us from generating an acceptable return on our investments.

Is Curaleaf making a profit? ›

Gross profit from continuing operations was $614.4 million in 2023, compared with $626.4 million in 2022. Adjusted gross profit from continuing operations net of add-backs for 2023 was $625.1 million compared with $667.0 million in 2022.

How much debt does Curaleaf have? ›

Total debt on the balance sheet as of March 2024 : $0.87 B

According to Curaleaf's latest financial reports the company's total debt is $0.87 B. A company's total debt is the sum of all current and non-current debts.

Who is the CEO of Curaleaf? ›

Matt Darin's Journey: From Reading the Paper to CEO of the Largest Public Cannabis Company. In this episode of the "Proud to Work in Cannabis" podcast, host Karson Humiston had the pleasure of interviewing Matt Darin, the CEO of Curaleaf, the largest public cannabis company in the United States.

Which European countries have dispensaries? ›

In 2024, Germany became the third European Union country to legalize cannabis for personal use, following Malta and Luxembourg. Here, we map the countries where recreational cannabis use is allowed as of April 2024, based on data from Wikipedia.

How much does Curaleaf cost in the UK? ›

Brands Owned or Manufactured
Adven® T2.5:C5 THC/CBD Oral Capsules Terra VerdeSativa Hybrid 2.5mg / 5mg28: £60
Adven® T10:C10 THC/CBD Strawberry Pastille Lozenges Terra VerdeHybrid 10mg / 10mg14: £34.30 28: £68.60
Adven® T20 THC Full Spectrum Oil Terra VerdeSativa Hybrid 20mg / <1mg10ml: £30 30ml: £80
11 more rows
Feb 23, 2024

What is Curaleaf UK? ›

We're a pharmacy that specialises in providing high quality, medical cannabis for patients in the UK and Channel Islands. Curaleaf Pharmacy is regulated by the General Pharmaceutical Council, GPhC and is a trusted expert in the safe use of all types of medicines, including medical cannabis.

Does Curaleaf operate in Canada? ›

(TSX: CURA) (OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer cannabis products, announced today the closing of its acquisition of Northern Green Canada ("NGC"), a vertically integrated Canadian licensed cannabis producer focused primarily on expanding in the international ...

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