Public cannabis companies snapping up private ones in M&A deals

Marijuana News

Public cannabis companies took purpose at private entities, closing eight acquisitions this week.

While the variety of merger and acquisition deals involving public companies as acquirers continues to outpace private ones, the share of general M&A transactions involving public consumers is barely decrease in 2019 than year-to-date 2018, 71% versus 78%.

In complete, 233 M&A transactions have been accomplished to date in 2019 versus 185 for the same interval final yr.

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

The knowledge under, offered by Viridian Capital Advisors, is thru the week ended Aug. 2.

For extra evaluation and in-depth seems to be on the funding developments and deals driving the cannabis business ahead, signal up for our new premium subscription service, Investor Intelligence.

Top raises closed final week:

  • Sentia Wellness, a CBD startup in Portland, Oregon, raised $91 million in each fairness and debt financing. Sentia was based by former executives at Cura Partners, a cannabis firm additionally based mostly in Portland that has a robust presence in the Western United States and is because of be acquired by Massachusetts-based Curaleaf in a deal value roughly 1.27 billion Canadian dollars ($949 million) on the time it was introduced.
  • Toronto-based Sol Global elevated its stake in Heavenly Rx via a CA$23.9 million ($18.1 million) funding, bringing its complete possession of the CBD wellness firm to 44.53%.

Top M&A deals closed final week:

  • Ohio-based Green Growth Brands accomplished its acquisition of Florida’s Spring Oaks Greenhouses in a $54.65 million deal. The transaction permits Green Growth to get a foothold in the state and open up to 35 dispensaries there.
  • Cannex Capital Holdings of Vancouver, British Columbia, and Phoenix-based multistate operator 4Front Holdings accomplished their deliberate merger in a transaction valued at slightly below $500 million. The mixed firm is now buying and selling as 4Front Ventures on the Canadian Securities Exchange underneath the ticker image FFNT.

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 companies and certified buyers in the cannabis sector.


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