it will acquire rival producer The Valens Company Inc. in an all-stock deal, a move that will boost the combined companies' market share in the hypercompetitive and volatile marijuana industry.
SNDL previously owned 10 per cent of Valens through purchasing shares on the open market before Monday’s announcement. SNDL also continues its acquisitive streak following recent purchases of liquor-and-cannabis retail operator Alcanna Inc. and retailer Inner Spirit Holdings Inc. that have propelled the company to become a dominating force in the Canadian pot retail segment. The company is leveraging its control of the 185 cannabis retailers it owns across the country to help fine tune what products it should focus on in the Canadian market, with a specific emphasis on large-volume premium cannabis products.
While SNDL’s deals have helped the company stave off bankruptcy in the early days of the pandemic and has led it to what industry consultancy Viridian Capital Advisors describes as “the best turnaround story we have witnessed in cannabis,” the company has yet to turn a profit, losing $47 million in its most recent quarter while generating $223.7 million in revenue.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: GlobalCalgary - 🏆 50. / 61 Read more »
Source: GlobalCalgary - 🏆 50. / 61 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »