Organigram Global, one of Canada’s largest marijuana producers, is entering the growing U.S. hemp-derived THC beverage market through a multimillion-dollar acquisition of Collective Project, a THC drink manufacturer based in Hamilton, Ontario.
Under the agreement, New Brunswick-headquartered Organigram acquired all issued and outstanding shares of Collective Project for an upfront payment of 6.2 million Canadian dollars ($4.3 million) plus potential earnouts, according to a Tuesday news release.
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The earnouts are based on various revenue targets that could bring the total price to roughly CA$30 million.
The total value of the deal, if benchmarks are hit, would be among the highest-priced transactions in the industry in the past few years, given that mergers and acquisitions have been hampered by a $3 billion debt wave that
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