Canada’s largest private-sector liquor and cannabis retailer has completed a deal to acquire The Valens Company, a B.C.-based developer and manufacturer of cannabinoid-based products.
First announced in August 2022, the transaction includes $138 million in SNDL shares and the assumption of Valens’ $60 million non-revolving term loan facility, Alberta-based SNDL noted in a press release.
George added that SNDL’s existing consumer-packaged cannabis business, which includes brands Citizen Stash, Palmetto and Grasslands, will be “transformed by Valens’ high-quality extraction, processing, and manufacturing capabilities.”
“Broad capabilities in all relevant product categories will further our goals of bringing people together through exceptional products and experiences. With the close of this transaction, we will focus on integrating our assets and teams while delivering both cost synergies and incremental revenue from greater distribution of Valens products,” he said.
SNDL notes the acquition makes the company one of Canada’s largest adult-use cannabis
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