Curaleaf International, part of Curaleaf Holdings and Europe's largest vertically integrated cannabis company, announced its wholly owned subsidiary, Terra Verde LDA, will acquire the assets of Clever Leaves' EU-GMP certified cannabis processing facility in Setubal, Portugal. The acquisition will allow Curaleaf International to streamline its operations and accelerate the seed-to-sale process of its EU-GMP flower products to better serve the rapidly growing European market.
The state-of-the-art facility, which measures over 900 square meters of GMP factory space and 750 square meters of warehousing, will process flower grown at Terra Verde, Curaleaf's Cultivation facility located in Alcochete, Portugal. These changes will allow Curaleaf to strategically expand its cultivation capacity at Terra Verde to meet the expected growth across Europe, especially within the core markets of the UK and Germany.
"By streamlining our production processes and expanding our cultivation capabilities, Curaleaf International is setting the stage for responsible, robust growth over the next few years as cannabis adoption accelerates across Europe," said Curaleaf CEO Matt Darin. "Curaleaf is the leading producer of consistent, high-grade product throughout the European market, and we will continue to work towards ensuring quality cannabis is available to patients and consumers in the EU and beyond."