Deal Watch: Big players behind cannabis M&A deals

Marijuana News

Last week wasn’t the busiest for accomplished M&A deals within the cannabis business, however some notable transactions have been concluded – together with one involving a well-established multistate operator (MSO) and one other a comparatively new however fast-emerging participant on the scene. (See particulars under.)

There have been solely 5 accomplished M&A deals final week, bringing the whole thus far this yr to 211. That compares with a complete of 166 in an identical interval in 2018.

In phrases of capital raises, general quantity for the week was just like final yr ($117.1 million in 2019 in contrast with $133.eight million final yr), however general capital raises in 2019 proceed to outpace final yr – $7.68 billion versus $four.66 billion.

This weekly collection from Marijuana Business Daily and Viridian Capital Advisors supplies the newest knowledge on cannabis funding exercise and M&A, together with key takeaways, evaluation and developments based mostly on current market strikes.

The knowledge under, offered by Viridian Capital Advisors, is thru the week ended July 12.

For extra evaluation and in-depth appears on the funding developments and deals driving the cannabis business ahead, join our new premium subscription service, Investor Intelligence.

Top raises closed final week:

  • Demetrix, a California-based firm, raised $50 million in a Series A funding to analysis artificial cannabinoid manufacturing. The funding spherical was led by New York-based funding group Tuatara Capital with help from an present investor, Horizons Ventures of Hong Kong.
  • Sol Global, a Toronto-based cannabis funding group, raised 50 million Canadian dollars ($37.5 million) in debt financing. The firm will use the proceeds to fund its enlargement in CBD actions and operations in California, Florida and Michigan.

Top M&A deals closed final week:

  • Harvest Health & Recreation, one of many largest MSOs within the United States, boosted its presence in Arizona with the acquisition of Leaf Life, which operates a medical marijuana dispensary within the state. Leaf Life is the 13th dispensary in Arizona for Harvest, which now has rights to function as much as 18 dispensaries and cultivation/processing amenities there. The worth of the deal was not disclosed.
  • Jushi Holdings, a Florida-based cannabis firm, closed a $63 million transaction to spice up its presence in Pennsylvania. The acquisition of Franklin Bioscience includes as much as 12 licenses for medical dispensaries.

Viridian Capital Advisors is a monetary and strategic advisory agency that gives funding banking, M&A, company improvement and investor relations providers to rising progress corporations and certified buyers within the cannabis sector.

Categories: Canadian Medical Marijuana & Cannabis Industry News, Featured Marijuana Business & Cannabis Industry News, International Marijuana Business News, Marijuana Sales, Funding & Banking News, United States Cannabis Industry & Marijuana Business News


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