Canadian cannabis and alcohol company SNDL won its stalking-horse bid to acquire Indiva, the country’s leading producer of marijuana edibles.
The acquisition includes Indiva’s facility in London, Ontario, as well as its portfolio of owned and licensed products Pearls by Grön, No Future, Wana Brands and Bhang Chocolate, according to a Thursday news release.
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“This transaction will materially improve our market share in the edibles category and is expected to unlock value through improved capacity utilization, a reduction in aggregate corporate expenses and the potential sale of redundant real estate holdings,” Zach George, SNDL’s chief executive officer, said in a statement.
Calgary, Alberta-based SNDL was an existing creditor and significant stakeholder before the acquisition was announced.
The deal, which must be approved by
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