Curaleaf Holdings, Inc. will acquire three Arrow Alternative Care (AAC) dispensaries in the state of Connecticut.
Strategically placed in key metro areas, AAC has established itself as a market leader in Connecticut dispensary cannabis retail, operating three out of 18 total stores currently operational in the State. Its first store opened in Hartford in 2014, the second in Milford in 2017, and the Stamford store opened its doors in January 2020.
Curaleaf is one of four licensed growers in Connecticut and currently operates a 60,000 square foot cultivation facility in Simsbury that provides high-quality cannabis products to over 40,000 patients throughout the state.
The acquisition will now allow Curaleaf to be vertically integrated, providing products to the patients directly as well as through existing wholesale channels.
“Arrow Alternative Care’s stores are the gold standard of pharmacy-like operations in Connecticut. They have grown a large, dedicated patient base by providing exceptional service and quality products,” said Joe Lusardi, CEO of Curaleaf. “This acquisition will be immediately accretive and provides Curaleaf with vertical integration in Connecticut. We can now bring the knowledge we’ve cultivated through our experience across 15 states to Connecticut’s medical cannabis patients directly.”
Curaleaf has been cultivating and processing medical cannabis in Connecticut since 2014. The Company currently offers a broad range of flower, extracted oil and edible products manufactured to meet the highest product quality and regulatory compliance standards. The newly acquired dispensaries will sell Curaleaf products along with select superior cannabis products from other Connecticut producers.