Frankfurt – Paul Hastings LLP, a leading global law firm, has advised the founders of Four 20 Pharma GmbH, a fully EU-GMP & GDP licensed German producer and distributor of medical cannabis, in connection with the acquisition of a 55% stake in the company by an affiliate of Canadian listed consumer cannabis provider, Curaleaf Holdings Inc. The founders will stay on board as management of Four 20 Pharma GmbH.

Four 20 Pharma is among the largest cannabis operators in Germany with over 10% market share. The deal will create a strategic pathway for Curaleaf to strengthen its position in the German market over the coming years, as Germany transitions, from a medical to an adult use market. Germany currently represents the largest medical cannabis market in Europe, and with adult use legalisation expected by early 2024, the market is expected to grow to nearly €1bn.

The unique partnership promotes alignment between Curaleaf and Four 20 Pharma to capitalize on the growing demand for adult use cannabis products in the European market with a strong platform in Germany.

The Paul Hastings team was led by PE partner Dr. Christopher Wolff, and included partners Dr. Katja Kaulamo, Dr. Regina Engelstaedter and Dr. Fritz Kleweta; Senior Tax advisor Uwe Halbig; and associates Christian Mueller, Julian Schmitz, Patrick D. Reuter, Marc-Lennart Soltau and David Hauser.

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