OUR 9TH YEAR OF PROVIDING PROPRIETARY CAPITAL MARKETS INTELLIGENCE ON THE CANNABIS / HEMP / PSYCHEDELIC SECTORS
M&A Transactions
M&A Transaction Chart
Viridian publishes weekly data on M&A transactions in the Cannabis/CBD/Psychedelic industries. This data includes information about the buyer and seller (public/private, state/country location), deal size, deal structure (cash, stock, earn-out), pricing, share information, and deal implied valuation.
Week ended 02/03/2023
Week ended 02/03/2023
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M&A Transactions Commentary
Week ended 02/03/2023
The Largest Closed M&A Deal of the Week:
- On January 30, 2023, TerrAscend Corp. (TER: CSE)(TRSSF: OTCQX), the sixth largest U.S. MSO by market cap, announced the closing of its acquisition of the 10,000 sq ft Allegany Medical Marijuana Dispensary in Northwest Maryland close to the Pennsylvania and West Virginia borders.
- Maryland voters approved adult use in November 2022.
- TerrAscend is well positioned in Maryland with a 150,000 sq ft cultivation and processing center in Hagerstown, MD.
- The dispensary will be rebranded to the Apothecarium and is expected to carry the full selection of TerrAscends brands, including Gage, Kind Tree, Valhalla, and Wana.
- The transaction consideration of $10M was paid in cash and represents approximately 1.25x the dispensary’s 2022 revenues of roughly $8M.
Week ended 02/03/2023
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Viridian publishes weekly insights on the M&A landscape in the Cannabis/CBD/Psychedelic industries. These insights typically highlight the most interesting/meaningful M&A transactions for that week, and commentary on market conditions, M&A deal structures, target regions for acquirers, and industry sectors ripe for consolidation.