This is now the biggest cannabis company in the world

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That makes Curaleaf the biggest cannabis company globally by sales, with expected annual revenue of about $1 billion, executive chairman Boris Jordan told CNN Business. For instance in March, cannabis company Harvest Health & Recreation's $850 million acquisition of Verano, a fellow retailer and cultivator of marijuana, was nixed for those reasons. Growing bigger would help Curaleaf better compete against any consumer product giants that enter the space if the US government were to legalize cannabis, Jordan said. ​​But there's still uncertainty over whether cannabis will be legalized at a federal level. "But I believe the genie is out of the bottle" on federal legalization, he added. ​​Still, the company hasn't been immune to broader trends. That depends largely on the legislative priorities of Congress and who wins the next presidential election. ​​"Obviously it's a big bet," Jordan said.

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The pandemic has dealt a blow to corporate dealmaking, but one company that you've probably never heard of has been on a buying binge. ​​Curaleaf Holdings, a Massachusetts company that grows, processes and sells cannabis through dispensaries in 18 states, last week bought the Chicago cannabis cultivator and retailer Grassroots for $830 million. That makes Curaleaf the biggest cannabis company globally by sales, with expected annual revenue of about $1 billion, executive chairman Boris Jordan told CNN Business. During the pandemic, the amount and value of M&A deals across all industries have plunged. According to the law firm White & Case, the total...

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