Cannabis producer HEXO Corp. is acquiring Redecan, Canada’s largest privately-owned licensed cannabis producer with a hefty portfolio of brands, in a $925-million cash-and-share deal. The proposed transaction is intended to create a more competitive platform in Canada that is positioned for further expansion into the United States, said Sebastien St-Louis, chief executive and co-founder of publicly traded HEXO. It would combine Ottawa-based HEXO, a dominant player in Quebec, with a product-dominant player in some of the largest markets in other parts of the country including British Columbia, Alberta, and Ontario, St-Louis said in an interview. If the deal is approved by HEXO shareholders and consummated as envisioned, it will put the company on the verge of its objective of becoming the top licensed producer by recreational market share, he said.
Mmp News Author, Medical Marijuana Program Connection, 06/06/2021 14:00:00