A conversation with Khadijah Tribble, Curaleaf's VP of Corporate Social Responsibility, and New Frontier Data's Chief Knowledge Officer, John Kagia. They discuss expanding access to legal cannabis on the East Coast and which markets are poised to make a significant impact on consumer attitudes and perceptions of cannabis.
Curaleaf’s Purple Sunset “Live Blend” cart is best described as an “excellent” product.
I commend Curaleaf for trying new ideas with their products, and these particular blends of cannabis and botanical terpenes seem to fill in another niche in Florida’s medical cannabis market.
I often look at the work a brand does beyond its products — like what it does to help the world. Select has been instrumental in helping me kick off the JaQuel Knight Foundation’s Dancer Relief Fund, which provides financial assistance via grants to dancers who were affected by the pandemic. Select helped with the first round of our fundraising by matching every dollar up to $10,000. It was incredible. But the company also makes great products. These drops are all natural and organic — for a CBD product, I feel like I’m getting the highest-quality option.
Curaleaf opened its 33rd location in Florida on 23rd Street next to Dr. Vape It in the Walmart Plaza. Curaleaf also has stores in 23 other states.
At the grand opening of Curaleaf, a couple dozen people were lined up waiting to get their hands on the shop's cannabis. One customer talked about constantly traveling to the Curaleaf store in Tallahassee and going to the grand opening of another Curaleaf store on Thursday in Pensacola.
These sale-leaseback deals are gaining traction. Major multi-state operator Curaleaf Holdings Inc. just sold a Florida property, and will offload another in the fourth quarter. Jushi, Columbia Care and Cresco Labs have also recently done sale-leasebacks.
“I always thought that consumer-goods companies didn’t need to own real estate,” Curaleaf Chairman Boris Jordan said in a phone interview. “And we’re not a real estate company. Our business is manufacturing branded cannabis.”
Cannabis is a booming industry and now medical cardholders in Panama City will have access to a brand new dispensary, Curaleaf.
But as the cannabis operator tells us, there are many hurdles when it comes to managing their revenue.
According to Forbes Magazine, legal marijuana sales in North America are expected to top $20 billion by 2021. But still, cannabis dispensaries have limited access to banking.
Pensacola welcomed its newest dispensary into the fold Thursday when Curaleaf Pensacola opened at 5090 N. Ninth Ave. with its extensive selection of medical cannabis products.
"To me, Curaleaf is completely patient focused," said Brandon Manuilow, Curaleaf's Florida training manager. "We'll take different time for different people. If someone's new to cannabis, we'll take as much as they need to figure out what's best for them."
"Once you start to over-analyze stuff, you do mess it up," Boris Jordan, the Executive Chairman of Curaleaf Holdings Inc. and Chief Investment Officer at Measure8, told Benzinga's Jason Raznick.
This was just one of many insightful pieces of advice the seasoned entrepreneur, who has 30 years of experience in investing and building companies, shared Thursday at the Benzinga Virtual Cannabis Capital Conference.
The company has 93 retail stores throughout 23 states and claims to be the biggest cannabis company in the U.S. by revenue. It's well-situated in a licit market that is expected to grow at a compound annual growth rate (CAGR) of 14%, reaching $30 billion by 2025, according to New Frontier Data. Worldwide sales of cannabis are also expected to skyrocket to $47 billion by 2025, as reported by San Francisco cannabis investment firm Arcview Research.
Here are three reasons why I think Curaleaf is still a good buy right now, even when taking into account its stock price's rise this year:
The Wakefield, Massachusetts-based cannabis company, which has been operating in Nutmeg State for over six years, closed the purchase of three Arrow Alternative Care dispensaries in Hartford, Milford, and Stamford back in April.
The acquisition of GR Companies Inc., which did business as Grassroots, was finalized in July. The purchase included the Grassroots Herbology dispensary located in Groton.
Curaleaf CMO Jason White spoke at the Forbes CMO Summit - “I don't want to bring culture into cannabis.I want to bring cannabis into culture. I want to go sit at the table with the Nikes and the Beatses and the Adidases and the Disneys and whomever. I want to be part of those conversations about how we’re all building culture and how we’re all moving the conversation forward.”
Watch his panel discussion.
In late July, Curaleaf closed an approximately $700-million deal to acquire Grassroots Cannabis. The move places Curaleaf boots on the ground in 23 U.S. states with a footprint that includes 88 operational dispensaries and 22 cultivation sites with 1.6 million square feet of current cultivation capacity.
The acquisition makes Curaleaf the largest cannabis company in the world, based on its anticipated $1 billion in annual revenue, a stat touted by the company's executive chairman on CNN Business in July.
And, yes, it’s a big deal on face value, but Curaleaf CEO Joe Lusardi says that the transaction represents a pivot toward the longer-term direction of the legal cannabis marketplace.
Vape pens are at the top of the list for convenience and discretion, but they often disappoint for a number of other reasons: weird fillers, excessive artificial flavoring, mediocre taste and lack of potency, to name a few. And after 2019’s vaping illness outbreak, consumers are wise to be cautious about what they’re inhaling.
#1 Curaleaf -- Curaleaf is the largest name in cannabis dispensaries. They operate in 23 states with 93 local dispensaries including four in Maryland. The majority of Curaleaf’s stores serve the medical cannabis community such as in Maryland. However, they also operate several dispensaries open to the adult-use cannabis community.
As a seed-to-store cannabis grower, manufacturer and producer, Curaleaf has 22 cultivation sites and 30 processing sites. They have dispensaries coast-to-coast and more than 350K registered users. Curaleaf also has more than 1,150 wholesale dispensary accounts.
A question on November’s ballot asks residents if they support changing the state Constitution to allow recreational use of the drug.
“There’s going to be a quantum leap in consumption and it takes time to prepare, to be ready for that,” said Joe Bayern, president of Curaleaf, the world’s largest cannabis company.
If New Jersey voters approve a commercial adult-user marijuana program in November, insiders predict legalization dominos will fall along the East Coast.
“It’s happening now,” noted Scott Rudder, president of the New Jersey CannaBusiness Association. Massachusetts already has a recreational marijuana market in full swing, and Maine’s is scheduled to launch Oct. 9.
SALT LAKE CITY — Six months after medical marijuana became legal for purchase inside Utah for the first time, the program has already surpassed enrollment projections.
But high demand has also led to shortages in both product and providers interested in recommending medical marijuana to patients.
Florida is seeing a surge in sales of medical marijuana and CBD hemp products as more people turn to them to treat their anxiety, insomnia and pain during the COVID-19 pandemic.
“Being able to provide patients access to their medicine in a safe environment was really important and a key priority for the company,” said Yesenia Garcia, Florida marketing director for Curaleaf, a medical marijuana dispensary chain.
All eyes may have turned to the Nov. 3 ballot question seeking to legalize marijuana for those over 21, but the state’s decade-old medical marijuana program continues to grow and evolve.
Curaleaf, the largest alternative treatment center in the state, quietly added another building to its Bellmawr campus this summer. Last week the company announced plans to open a second dispensary in Bordentown while continuing to wholesale product to other alternative treatment centers around the state.
Despite a delay in the U.S. House of Representatives vote for a bill that would seek to legalize cannabis at the national level, the legal cannabis market in the U.S. still stands to substantially grow as more states plan to let voters decide whether they want to legalize it.
According to a new report from cannabis market firm New Frontier Data, state ballot measures slated for 2020 in five states — Arizona, Mississippi, Montana, New Jersey and South Dakota — could be the green light for adding $9 billion dollars to the size of the nation’s legal cannabis market if all are approved by voters this November.
Public opinion about cannabis use has shifted considerably in the past decade. People from a variety of backgrounds are now enthusiastically embracing products that were once only deemed fitting for stoners. A large part of cannabis’ successful rebranding can be attributed to everyday consumers talking about how the plant has profoundly changed their lives. Cannabis consumption can be a deeply personal experience, and Tracy Brady, VP of Corporate Communications at Curaleaf believes that highlighting these unique and individual stories is the key to creating long-term customer relationships. In this episode, Tracy shares with us how her team encourages cannabis consumption with confidence, how she’s applied her mainstream marketing and media training to the emerging space, and addresses one of the most pressing questions in the industry: can big cannabis be good cannabis?