Curaleaf Joins Marijuana Multistate Operators Pivoting To Hemp-Derived THC
Instead of exiting hemp, Curaleaf just went all in
Curaleaf Holdings was done with hemp.
The New York-based marijuana multistate operator had a hemp operation in Lexington, Kentucky, as part of a CBD product line the company had operated since 2018.
But as of Sept. 30, 2023, Curaleaf had “ceased all of its operations in Kentucky related to the manufacturing and wholesale distribution of hemp-derived products wholesale,” moving to terminate a lease and putting its assets up for sale, the company reported in annual filings earlier this year.
Then, it seems, the company had second thoughts.
Instead of exiting hemp – for years viewed by many in the industry as an unwelcome competitor to strictly regulated marijuana – Curaleaf would go all in, joining a growing trend among licensed cannabis companies.
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