Curaleaf adds IR and capital markets chief in newly created role

Mar 18, 2021
Cannabis consumer products company names Carlos Madrazo as IR lead

Curaleaf, a US provider of cannabis consumer products, has named Carlos Madrazo as vice president of investor relations and capital markets – a new role for the company.

The US firm, which trades on the Canadian Securities Exchange and on the OTCQX, says in a statement that Madrazo joins ‘at a pivotal time’ for Curaleaf and the cannabis industry, as liberalization trends gain momentum.

Curaleaf is headquartered in Wakefield, Massachusetts and has a presence in 23 states. It owns and operates 101 dispensaries, 23 cultivation sites and 30 processing sites. It employs more than 3,800 people in the US and recently announced its expansion into Europe with the acquisition of EMMAC Life Sciences, which has a presence in key European medical cannabis markets, including the UK, Germany, Italy, Spain and Portugal.

Announcing the deal earlier this month, Joseph Bayern, Curaleaf CEO, said in a statement: ‘Today marks a milestone moment as Curaleaf will immediately become the US multi-state operator with the largest European footprint.

‘Our acquisition of EMMAC will provide a strong platform for the future introduction of our Curaleaf and Select brands into the European market, all leveraging our science, R&D, formulated product and form-factor innovations, as well as vast consumer insights that we have built through our leadership position in the US. Based on consumption habits we have seen in the US, we believe that over time, Europe could grow to a more than $120 bn total addressable market opportunity.’

Madrazo says he is ‘honored’ to join the company ‘at such an important moment and to work with true pioneers and transformers in the industry. I am excited for what the future holds for the company.’

He brings to the role more than 20 years of IR, investment banking and operations experience, most recently having led the IR and sustainability effort for NYSE-listed Grupo Televisa. Prior to that, Madrazo was CFO at Tutv and also spent six years with Chase Securities in its global M&A group. He holds an MBA from the University of Notre Dame and a BA in economics.

As well as leading Curaleaf’s IR and capital markets program, Madrazo will assist in corporate finance and strategic planning matters, according to the company.

‘Carlos brings a global financial market mindset and significant career experience to our team, which will enhance our communications and engagements with investors around the world, particularly as we expand our shareholder base,’ says Bayern in the statement welcoming Madrazo to the firm. ‘Carlos joins us at a pivotal time for Curaleaf and the industry as consumer and political liberalization trends around cannabis continue to gain substantial momentum worldwide.’

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