Canadian weed producer Tilray announced this week that they have plans to take over Natura Naturals. Natura Naturals is a major producer of (medical) cannabis in Leamington (Ontario).
The deal is in line with Tilray's strategy to purchase cannabis from external suppliers and will help address shortages in the Canadian recreational market.
Deal or no deal
When the deal is finalized within 12 months, Tilray will pay up to 70 million Canadian dollars - including 15 million Canadian dollars in cash - to Natura Naturals. Tilray CEO Brendan Kennedy: "We are pleased to have an agreement that will allow us to expand our capacity to deliver high quality cannabis products to the Canadian market."
Tilray was the first cannabis company to enter the American stock exchange (Nasdaq) in July. Since then, the company has further expanded its activities. In December, Tilray announced a partnership with a department of Swiss drug giant Novartis AG to commercialize medical cannabis products, develop new products and educate doctors and pharmacists about medicinal weed.
In addition, Tilray signed an agreement with Authentic Brands to market various cannabis brands worldwide. With the help of the distribution channels and the experience of Authentic Brands, the cannabis products from Tilray will be available in more and more stores. Or more simply: Tilray conquers the cannabis world.
Source ao:
https://www.businessinsider.nl/weed-tilray-stock-price-acquiring-natura-naturals-2019-1/https://www.bloomberg.com/news/articles/2019-01-22/tilray-to-buy-natura-naturals-for-up-to-c-70m-c-35m-up-front-jr7s98m7
