The company, based in Wakefield, has applied for state licenses to sell medical marijuana at three stores and recreational pot at three, the maximum a single company is permitted to own — or control — under the state’s marijuana law.
But Curaleaf could soon exceed the state limits. The company told investors it reached an agreement in August to buy Alternative Therapies Group, which has a hybrid medical-recreational store in Salem and has provisional licenses to open two more in northeastern Massachusetts. If completed, the deal would potentially give Curaleaf ownership or control of six medical marijuana licenses and six recreational permits in various stages of the approval process, double the number allowed under state rules.
In an interview at the Globe on Tuesday, Curaleaf chief executive Joseph Lusardi insisted the Alternative Therapies deal will comply with the rules. He emphasized that acquisition hasn’t been completed or submitted to regulators for approval. But he said Curaleaf ultimately hopes to manage the three additional Alternative Therapies stores under exclusive management contracts, which he believes do not constitute “control” of these additional stores.
“We will not own or control those three dispensaries,’ Lusardi said. “I am absolutely confident that the transaction we file with the regulators will be compliant with state law.”