Calgary, Alberta-based SNDL said it successfully completed its acquisition of Zenabis Group.
In June, SNDL signed a deal to put in a stalking horse bid to buy the assets of the distressed Hexo Corp. subsidiary.
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SNDL did not disclose the price of the transaction.
In a news release, SNDL said an order of the Québec Superior Court approved the acquisition by a wholly owned subsidiary of all Zenabis shares, as part of the consideration for the senior secured debt of Zenabis.
In preparation for the exit of Zenabis from the Companies’ Creditors Arrangement Act (CCAA) process, SNDL Chief Executive Officer Zach George said that “our operational teams have been working closely with Zenabis’ Monitor and leadership as we plan to integrate our two businesses.”
“As a result of the transaction, SNDL will acquire an indoor cultivation facility with considerable capabilities and proven outcomes, significant monetizable cannabis inventory, and
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