Bayern checked in to discuss the company’s pillars of growth, recent deals and what comes next for Curaleaf.
The company is focused on four pillars of strategic growth to build its competitive advantage in the cannabis space: consumer products, distribution, consumer connection and talent.
More than 5,500 people work at Curaleaf, and the company continues to build out its functional teams. Curaleaf also adds talent to its team via acquisitions.
The company, which reports its Q4 in early March, will reach its guidance for the year, albeit on the lower end, growing almost 90 percent, according to Bayern.
It looks at deals to expand its national footprint in the U.S., and it looks at opportunities in emerging markets, like Europe.
Previously, Curaleaf was underrepresented in the market, but now, the company has the assets to be competitive in the state, according to Bayern.
In addition to the retail footprint, Bloom also comes with some leading brands in the marketplace, according to Bayern.
The deal still has regulatory hurdles to clear, but Bayern is optimistic that it could close within the next six months.
The company established Curaleaf International through an acquisition, and it considers Europe to be an attractive market in the long term.
The team will also look to leverage the clinical research focus in the European market as it explores product development across its footprint.
In December 2021, Curaleaf announced a $425 million private placement.
The company is also starting to have conversations with large institutional investors who are waiting for regulatory change, like SAFE Banking, to enter the cannabis space.
While the company does not expect adult-use in New York this year, it does have a full year of whole flower in the state.
While Curaleaf is optimistic about its prospects this year, Bayern does expect industry growth to slow in 2022 and going forward.
Curaleaf grew its distribution points from approximately 1,200 at the beginning of 2021 to more than 2,200 by the end of the year.
While the slowdown of the growth in the industry will be a challenge, large players like Curaleaf will have more opportunities to pursue consolidation.