Acreage Holdings Announces Changes in Executive Leadership Team

George Allen and Glen Leibowitz to Play Critical Roles as Multi-State Cannabis Operator Approaches Completion of Strategic IPO

New York City, NY – March 27, 2018 – Acreage Holdings (“Acreage”) (www.acreageholdings.com), one of the nation’s largest, multi-state actively-managed cannabis corporations, announced that the company has added significant depth and experience to its executive leadership team with the hire of Glen Leibowitz as the new Chief Financial Officer, as well as the promotion of George Allen to President. 

Mr. Allen most recently served as the Acreage Holdings CFO. Both leadership additions are part of Acreage’s comprehensive growth plan.

As President, Allen will assume wider organizational management duties and will drive an aggressive acquisition strategy to grow Acreage into the nation’s largest cannabis operator and brand, addressing all consumer segments. In his former role as CFO, Allen was a driving force behind key financial and transactional decisions that were critical to the Company’s strategic pivot to becoming a nationwide operator of vertically integrated cannabis operations. Previously, Mr. Allen served in various senior management roles at financial services rollup Blucora and as investment principal at Warburg Pincus for nearly 10 years. 

Leibowitz, who brings over 20 years of finance and accounting experience to his new role as CFO, will play a critical part in Acreage’s upcoming IPO. In his previous positions, Leibowitz led financial reporting and compliance efforts at Apollo Global Management LLC (NYSE: APO) and led a global IPO team at PwC LLP (PricewaterhouseCoopers). His expertise in building and scaling operations, improving controls, and managing accelerated business growth will ensure that Acreage’s existing portfolio stretching across 11 different states continues to flourish.

On Allen, Acreage CEO Kevin Murphy said, “George’s leadership and ability to manage change in our organization has been instrumental in Acreage’s rapid consolidation of our portfolio. We are certain that the role of President will allow George to apply his vast experience and strong management skills to have a more direct impact on organizational success.”

On Leibowitz, Murphy added, “Glen’s invaluable finance and accounting experience is a natural fit for managing our complex, growing portfolio of cannabis operations that span the country and require deep understanding of Federal, state and local issues. His experience with the public offering process and his insights on creating a robust public reporting framework and regulatory accounting program will also be critical to completing Acreage’s strategic IPO later this year.”

Acreage, which was founded in 2014 by Kevin Murphy, was formerly known as High Street Partners. In 2018, Acreage initiated a strategic pivot from passive investment into cannabis companies into active ownership and management across the country.  With state-awarded licenses, operators, and growth capital in 11 different states, Acreage has become one of the broadest and most diverse portfolios in the business.


ABOUT ACREAGE HOLDINGS

Acreage Holdings is a vertically integrated, multi-state owner of cannabis licenses and assets in states where either medical and/or adult use cannabis is legal.  Headquartered in New York City and currently operating in 11 states, Acreage owns cultivation, processing and dispensary operations and has among the largest footprints of any cannabis company in the U.S.  The company is focused on building and scaling the best-in-breed operations and creating the best consumer-focused cannabis experiences and brands in the space.


CONTACTS

Communications Contact:
Lewis Goldberg/Jon Goldberg
KCSA Strategic Communications
212-896-1282
Acreage@kcsa.com

Company Contact:
Harris Damashek
Acreage Holdings
Chief Marketing Officer
917-877-1766
h.damashek@acreageholdings.com

NewsroomGlen Kayler