Editor’s note: Four days after this article was published, Flora Growth issued a press release on Nov. 4 reaffirming the supply agreement between the two companies. Curaleaf acknowledged it too.
Cannabis multistate operator Curaleaf is denying that it entered a supply agreement with Flora Growth after Flora Growth issued a press release on Oct. 30 suggesting just that.
“There is no agreement in place between Curaleaf and Flora Growth Corp.,” according to a Curaleaf statement provided to Cannabis Business Times through the company’s public relations team.
That statement came after Flora Growth indicated in Wednesday’s press release that it plans to target Germany’s cannabis market through a partnership with Curaleaf that involves importing Curaleaf’s medical cannabis strains and products. Flora Growth has an EU good manufacturing practice (GMP)-certified facility in Germany, according to the release.
“We are eager to partner with Curaleaf to bring their premium cannabis products to the German market.” Flora Growth CEO and Chairman Clifford Starke said in the release. “With the legal landscape evolving rapidly since the April 2024 legalization, there is a robust opportunity for cannabis to meet the needs of patients across Germany. At Flora, we remain committed to sourcing the best products, and Curaleaf's proven expertise and quality align with our vision to serve this growing market through our EU-GMP facility.”
According to Curaleaf’s PR team at Mattio Communications, however, Flora Growth’s press release was distributed without Curaleaf’s knowledge and “is factually incorrect.”
When CBT reached out to Flora Growth for comment, Starke said, "We have had a supply agreement in place for years and its publicly available."
Germany legalized adult-use cannabis possession and home grows earlier this year, with the country’s residents 18 and older allowed to join nonprofit “cannabis clubs” under the legislation that went into effect in April. Parliamentary leaders indicated at the time that they’d work on complementary legislation to establish a commercialized adult-use market for cultivation and sales.Despite the limited adult-use business opportunities under Germany’s Cannabis Act (also called CanG), new opportunities for medical cannabis business were established by the law removing cannabis from the country’s narcotics list.
RELATED: Germany’s Cannabis Legalization Moves Forward as Planned
Curaleaf entered the German medical market in September 2022 by completing the majority-stake acquisition of Four20 Pharma
“Today’s passage of the Cannabis Act in Germany represents a watershed moment for patients and adult-use consumers alike,” Curaleaf Chairman Boris Jordan said in a March 2024 statement provided to CBT. “This legislation has set the standard for future cannabis regulatory programs across all of Europe.
In late April, Curaleaf bolstered its position in various European markets, including Germany, by closing its acquisition of Northern Green Canada. According to Curaleaf, the merger will secure a consistent and high-quality EU-GMP flower supply that’s essential to maintaining the company’s leading position in Germany, the U.K. and Poland.
The company has not issued an official press release regarding claims of an agreement to supply its medical cannabis genetics or products to Flora Growth.
