Pot o’ gold? HERBL CEO outlines promise, struggles of marijuana distribution
Leading West Coast Cannabis Brand Select Consolidates Distribution Operations with Strategic California Partner, HERBL
WAKEFIELD, Mass., May 4, 2020 — Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf” or the “Company”), a leading vertically integrated cannabis operator in the United States, has signed HERBL, California’s largest cannabis distributor and supply chain solutions company, as the exclusive distributor of Select products in California. This partnership with HERBL will allow for an increase in deliveries, expanded customer footprint, a more cost efficient delivery method and opportunity for continued growth for the Select brand across the state.
The decision marks another step forward in Curaleaf’s business consolidation strategy as the Company continues to grow Select across the country. Through its vast network, the HERBL partnership will bring Select to more than 850 licensed dispensaries and delivery partners across the state of California, the world’s largest cannabis market. Curaleaf’s California sales, manufacturing and marketing teams will now focus primarily on new product development and brand marketing for Select, while HERBL will serve as a logistics, retail services, inventory management and distribution partner in the state.
The Select brand, which was acquired by Curaleaf in February 2020, can now be found in Oregon, California, Nevada, Arizona, Colorado, Michigan, Maryland and Oklahoma. The brand is expanding rapidly into additional states across the country, with Curaleaf now operating in 17 states total.
HERBL will serve as the exclusive distribution partner for Select products in California, including its flagship vape cartridge Select Elite, Select Elite Gummies, Select CBD, Ratio Drops and the newly launched enhanced live resin vape cartridge, Select Elite Live. Outside of California, the Select brand will continue to sell and distribute Select products via internal channels, as it always has.
“With our HERBL partnership, California customers can expect the same Select products they know and love, with the added layer of enhanced access and new distribution efficiencies to make the process more streamlined for all,” said Mark Russ, Senior Vice President of Sales at Curaleaf. “The partnership comes at an exciting time, as we’ve just launched our new enhanced live resin product, Select Elite Live, and we’re looking forward to introducing this product to even more dispensary doors, patients and consumers across the state,” Russ continued.
“Select products are a favorite with dispensaries and consumers alike, and the HERBL team is ready to scale and grow the brand’s reach in California to its fullest potential,” said Mike Beaudry, founder and CEO of HERBL.
During the COVID-19 pandemic, cannabis has been deemed an essential service in most states, including California, and the industry continues to serve patients and customers. At Curaleaf dispensaries, customers can expect to see heightened safety and hygienic measures including increased cleaning protocol, social distancing, new delivery options, curbside pickup, and dedicated hours for seniors and other at-risk populations. The company’s focus remains on the safety of customers, patients and employees at this time.
HERBL is California’s largest cannabis distributor and supply chain solutions company servicing more than 850 storefront and non-storefront retail licensees. Founded in 2016, HERBL’s team is composed of distribution and retail experts with extensive experience in large-scale global supply chains. HERBL brings the state’s leading cannabis retailers and top brands together through world-class technology, unparalleled service, and high-security, state-of-the-art facilities and trucks. Exclusive brand partners include the leaders in flower, vapes, edibles, topicals, pre-rolls, and concentrate. To learn more, visit www.HERBL.com.
About Curaleaf Holdings, Inc.
Curaleaf Holdings, Inc. (CSE: CURA) (OTCQX: CURLF) (“Curaleaf”) is a leading vertically integrated multi-state cannabis operator with a dominant presence on both the East and West coasts of the United States, the largest cannabis market in the world. As a high-growth cannabis company known for quality, expertise and reliability, the company and its brands, Curaleaf and Select, provide industry-leading service, product selection and accessibility across the medical and adult-use markets. Strategically positioned in highly populated, limited-license states, the company currently operates in 17 states with 57 dispensaries, 15 cultivation sites, and 24 processing sites. Curaleaf employs over 2,200 people across the United States.
For more information please visit www.curaleaf.com.
Curaleaf Holdings, Inc.
Dan Foley, VP, Finance and Investor Relations
Curaleaf Holdings, Inc.
Tracy Brady, VP Corporate Communications
Carm Lyman, Lyman Agency
Forward Looking Statements
This media advisory contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Generally, forward-looking statements and information may be identified by the use of forward-looking terminology such as “plans”, ” expects” or, “proposed”, “is expected”, “intends”, “anticipates”, ” or “believes”, or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. More particularly and without limitation, this news release contains forward-looking statements and information concerning the HERBL distribution agreement. Such forward-looking statements and information reflect management’s current beliefs and are based on assumptions made by and information currently available to the company with respect to the matter described in this new release. Forward-looking statements involve risks and uncertainties, which are based on current expectations as of the date of this release and subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Additional information about these assumptions and risks and uncertainties is contained under “Risk Factors and Uncertainties” in the Company’s latest annual information form filed September 23, 2019, which is available under the Company’s SEDAR profile at www.sedar.com, and in other filings that the Company has made and may make with applicable securities authorities in the future. Forward-looking statements contained herein are made only as to the date of this press release and we undertake no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. The Canadian Securities Exchange has not reviewed, approved or disapproved the content of this news release.