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Corporate & Tax

Gesmer Updegrove congratulates its client, Curaleaf, on the acquisition of Deseret Wellness, the largest retail cannabis operator in Utah

Curaleaf is the leading provider of cannabis retail products in the world. It operates 150 dispensaries and 28 cultivation sites in 19 states, with a focus on largely populated states such as Arizona, Florida, Illinois, Massachusetts, New Jersey, New York and Pennsylvania. It is also the largest vertically integrated cannabis company in Europe.

The Deseret Wellness transaction, valued at approximately $20 million, includes three retail dispensaries in Park City, Provo, and Payson. With the acquisition, Curaleaf’s retail footprint has expanded to four dispensaries in Utah. The move is a strategic fit for Curaleaf as it continues to expand its retail presence in emerging markets, including Utah, which recorded $118.7 million in sales last year.

Curaleaf was represented in the acquisition by Gesmer Updegrove with a team led by Sarah Richmond.