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 06/30/2023
Week ended 06/30/2023
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M&A Transactions Commentary
Week ended 06/30/2023
The Most Important M&A Deals of the Week:
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- TerrAscend (TER: CSE)(TRSSF: OTCQX), the fifth-largest MSO by market cap, had quite a week to round out the second quarter. The company was approved to begin trading on the TSX with the new symbol TSND starting July 4, 2023. TER also closed its second and third dispensary acquisitions in Maryland (with another in the works).
- On June 28, 2023, TER closed on a $22.1M acquisition of Penninsula Alternative Health. The exact mix of consideration was not disclosed, but the acquisition was completed at 1.58x run rate revenues.
- On June 30, 2023, TER closed on a $6.75M acquisition of Blue Ridge Wellness. Consideration included $3M in cash with the balance in seller notes. Transaction value/ run rate sales was 1.57x
- TerrAscend’s $8.4 acquisition of Herbiculture will bring it up to the regulatory limit of 4 dispensaries in Maryland.
Week ended 06/30/2023
This is the MA basic
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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.