US-based cannabis retail operator Curaleaf Holdings has agreed to acquire BlueKudu, a producer of cannabis edibles, in a move that will enable it to enter Colorado.
Based in Colorado, BlueKudu is known for its cannabis chocolates and gummies offering combinations such as toffee and almond milk chocolate, and coffee and dark chocolate.
BlueKudu reportedly uses an extraction process that provides a cleaner and more natural oil to create artisanal cannabis products with vegan and gluten free options.
The acquisition supports Curaleaf’s planned expansion of its recently purchased Select brand throughout Colorado.
“Colorado is the second largest cannabis market in the US, with sales surpassing $1.7 billion in 2019,” said Joe Lusardi, CEO of Curaleaf.
Lusardi added: “With over eight years of operating history, BlueKudu has developed a strong brand for customers seeking premium cannabis products in a diverse range of flavours and formulations.
“BlueKudu’s established production and distribution capabilities will allow Curaleaf to seamlessly enter the market and expand the Select brand presence in the state of Colorado.”
As part of the deal, Curaleaf will take over BlueKudu’s 8,400 square-foot infusion kitchen and processing facility in Denver.
Curaleaf currently operates in 16 states with brands such as Select offering oils, edibles, and CBD products.
The deal is subject to regulatory approvals.
© FoodBev Media Ltd 2020
World Dairy Innovation Awards – OPEN FOR EARLY BIRD ENTRIES!
The awards celebrate excellence and innovation across the global dairy industry.
Don’t miss out on having your innovations recognised on a global scale.
Early bird deadline 19 March – enter now!