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4 HARTFORDBUSINESS.COM | AUGUST 19, 2024 What's Trending Building Ideas That Work... Building Ideas That Work... © 2011 BlueScope Buildings North America, Inc. All rights reserved. Butler Manufacturing ™ is a division of BlueScope Buildings North America, Inc. For more than 80 years, Borghesi Building & Engineering Co., Inc. has provided quality and reliability with design and energy efficient construction. 860.482.7613 | BorghesiBuilding.com 2155 East Main Street, Torrington, Connecticut 06790 With an attractive design, it presents to your customers a comfortable relaxing environment to help promote sales. PROJECT SPOTLIGHT: COUNTER WEIGHT BREWING When quality finishes and an attractive functional interior are required, our fine craftsmen provide the ultimate details. Without fanfare, world's largest publicly traded cannabis company lists a new CT HQ address By Andrew Larson alarson@hartfordbusiness.com D id the world's largest publicly traded cannabis company quietly relocate its headquar- ters to Connecticut? It appears so. Curaleaf Holdings Inc., parent company of well-known cannabis brand Curaleaf, lists its "principal busi- ness address" as 290 Harbor Drive, in Stamford, according to an Aug. 7 filing with the Toronto Stock Exchange, where the company's stock is traded. The property at 290 Harbor Drive, called Shippan Landing, is a 17-acre luxury office complex with waterfront views. It is a short walk from the Stam- ford Train Station and has a marina. Curaleaf's first press release to use a Stamford dateline was issued on June 24. Prior to that, the company listed its headquarters on Lexington Avenue in New York City, and before that, it was based in Wakefield, Massachusetts. A Curaleaf spokesperson said the New York and Massachusetts offices have closed. Meantime, a state Department of Economic and Community Develop- ment official said the agency did not provide any assistance to Curaleaf for a move to Stamford. As of June 30, Curaleaf had opera- tions in 17 U.S. states, operating 146 dispensaries, 19 cultivation sites and 22 processing facilities. It's a significant player in Connecti- cut's cannabis market, operating legal marijuana dispensaries in Groton, Hartford, Manchester and Stamford, and a large grow facility in Simsbury. Internationally, the company is licensed to cultivate cannabis in Portugal and Canada. It has four cannabis processing and manufac- turing facilities in Germany, Spain, Canada and the United Kingdom, and is licensed to distribute cannabis in Germany, Poland, Canada, Switzer- land and the U.K. Further, Curaleaf sells wholesale cannabis to Australia, New Zealand, the U.K. and across Europe, including Germany, Italy and Poland. In 2023, the company reported $1.3 billion in net revenues, up 5.5% from a year earlier, but a loss of $290 million, an improvement from a $376.9 million loss in 2022. Amid those losses, Curaleaf has pulled back in parts of the U.S. market. In January 2023, it announced plans to close its production and cultivation operations in California, Colorado and Oregon. New CEO Meantime, Curaleaf this month announced that its board named Executive Chairman Boris Jordan to the positions of chairman and CEO, effective Aug. 16. Former CEO Matt Darin will continue as a special adviser until the end of the year, Curaleaf said. The announcement occurred during the company's second-quarter earn- ings call. Curaleaf reported net revenue of $342 million during the quarter, an increase of 2% from a year ago, but an overall loss of $49.8 million. During the first six months of 2024, Curaleaf said it made $37.8 million in capital investments in automation, cultivation and retail facilities. Jordan, the new CEO, co-founded Curaleaf in 2014. He held the position of executive chairman since 2015. Jordan has been the subject of controversy over his history of busi- ness dealings in Russia. According to a 2022 report in The Guardian, Jordan spent most of two decades in Russia and earned a repu- tation "as the country's most promi- nent foreign investment banker." The publication also reported that Jordan admitted he "once had a close relationship with (Russian President Vladimir) Putin." NOTABLE COMPANIES WITH A HEADQUARTERS OR PRESENCE IN STAMFORD • Philip Morris International • GE • WWE • United Rentals • Point72 • Philips • NBC Sports • NatWest • M&T Bank • Diageo North America • ITV America • Gartner • Synchrony Financial • KPMG • Indeed • Pitney Bowes • Harman • Deloitte • Charter Communications • EY • Wheelhouse • KAYAK