Cannabis M&A

Ayr Strategies Inc. (CSE: AYR.A) (OTCQX: AYRWF) confirmed Wednesday a $75.4 million worth acquisition of Blue Camo LLC. In November, the multi-state cannabis operator revealed its plans to acquire 100% of the membership interest of Blue Camo, an Arizona-based vertically integrated cannabis...

In recent weeks, the largest U.S. Cannabis companies have raised record amounts of equity capital, significantly boosting liquidity. The graph displays Enterprise Value/Consensus 2021 EBITDA estimates for 36 U.S. Cannabis companies in the Viridian Value Tracker database, ranked by size and...

The graph demonstrates a generally positive impact on the stock price of the Buyer in cannabis M&A transactions and this gain seems to relate to the size of the transaction. Cannabis investors appear to favor transformational sized deals that exceed 50% of the pre-transaction asset size of the...

The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Each week the Tracker analyzes/aggregates all closed deals and allocates each transaction to one of twelve key industry sectors in which the deal occurred (...

This chart shows the percent change in the stock prices of the 5 largest U.S. and Canadian cannabis companies by market cap from the market close on January 4, 2021 (the day before the Georgia senate election) to January 8, 2021 (3 days after the election).  Unexpectedly, the large...

Since Q3’2019 we have been commenting that the U.S. would become the main target region for cannabis company acquirers. We looked back through the Viridian Cannabis Deal Tracker and here are the numbers --  U.S. cannabis companies accounted for over 90% of M&A consideration in the...

  In general, smaller cap public companies trade at higher valuation multiples than larger cap companies due mainly to the expectations of faster growth. This is NOT the case in the cannabis industry. We looked at the valuations of the largest 6 market cap U.S. cannabis companies...

Canopy Growth Corp (NYSE: CGC) reported Monday it's giving up on its interest in Canopy Rivers Inc. (TSX: RIV) (PINK: CNPOF). The Toronto-based cannabis-focused venture capital firm opted to transfer three of its portfolio assets to Canopy Growth. Rivers will obtain $115 million in cash and 3....

Shares of Canadian cannabis growers Aphria Inc. (NASDAQ: APHA) and Tilray Inc. (NASDAQ: TLRY) are trading sharply higher on Wednesday, following news about the two companies merging. The deal would create the largest enterprise in the cannabis industry by revenue. It is estimated that the...

BevCanna Enterprises Inc. (CSE: BEV) (OTCQB: BVNNF), a producer of cannabinoid-infused beverages, will buy Naturo Group Investments Inc., a beverage developer and manufacturer. The two companies executed a definitive agreement from Dec. 11. Once the transaction is over, Naturo will become a wholly-...

Entourage Effect Capital founder and managing director Matt Hawkins has some advice for cannabis operators. "I would say to the small to mid-sized operators — no matter what sector you're in — find other companies in your space and put your egos aside and join forces...

Hemp capital market deals punished in 2020:  Hemp capital raise transactions are down significantly in 2020 both in terms of aggregate dollars raised and in number of transactions. A similar picture is seen when we look at the number of acquisitions targeting hemp and when we look at hemp...

The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Each week the Tracker analyzes/aggregates all closed deals and allocates each transaction to one of twelve key industry sectors in which the deal occurred (...

Unlike equity capital raises which are sharply lower in 2020, debt raises increased from $423M to $563M to $940M in 2018, 2019 and YTD 2020 respectively. Like M&A, debt has moved eastward. California, Colorado, Oregon, and Washington jointly made up 34.5% of 2018 debt but only 5.4% of...

The Viridian Cannabis Deal Tracker is an information service that monitors capital raise and M&A activity in the legal cannabis industry. Each week the Tracker analyzes/aggregates all closed deals and allocates each transaction to one of twelve key industry sectors in which the deal occurred (...