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 06/06/2025
Week ended 06/06/2025
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M&A Transactions Commentary
Week ended 06/06/2025
- The Week’s Closed M&A Transactions:
- On June 5, 2025, Vireo Growth (VREO: CSE)(VREOF: OTCQX) announced that it had closed its previously announced transaction to acquire Missouri-based Proper Brands.
- Proper operates 11 dispensaries, 10 of which are in the St Louis area, with one in the Kansas City area.
- The transaction was an all-stock deal for $102.0 million, representing 4.175 times 2024 “Closing EBITDA” of $ 31 million.
- The consideration is subject to a clawback provision if 2025 EBITDA is below “Closing EBITDA.
- The table below shows that the 4.175x EV/EBITDA reference point of this transaction is below the 4.87x 2024 EV/ EBITDA multiple of the five companies in our Valuation Tracker databased with market caps of between $50M and $120M.
Week ended 06/06/2025
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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.