MJBizMag April 2021 - 19
British American Tobacco Strikes Deal With Organigram
A subsidiary of cigarette maker British American Tobacco
(BAT) and Atlantic Canada-based marijuana producer
Organigram signed a $175 million strategic collaboration
with a focus on research and product development.
The BAT subsidiary acquired a 19.9% stake in
Organigram by buying 58.3 million common shares at a
price of $3.02 (CA$3.79).
The deal lays the groundwork for BAT to capitalize
on cannabinoid-based products and delivery systems
and might herald similar investments if U.S. marijuana
prohibition ends, experts said.
Curaleaf Enters Europe With $286M Acquisition
Curaleaf Holdings of Wakefield, Massachusetts, signed
a $286 million definitive agreement to acquire Londonbased
medical marijuana company Emmac Life Sciences.
The purchase gives the multistate operator a major
foothold in the European cannabis market and a leg up
on rival businesses.
The terms of the deal call for Curaleaf to pay $286 million
up front, with 85% in Curaleaf stock and 15% in cash.
The transaction includes another $57 million dependent
on achieving certain performance targets, meaning the
deal ultimately could total up to $343 million.
Emmac, already a vertically integrated cannabis
company, has an existing footprint in eight European
countries, including the United Kingdom, Germany, Italy,
Portugal and Spain. The company exports cannabis
grown in Portugal to the Israeli marijuana market, for
instance, and plans to ramp up production capacity significantly
this year.
Have a company announcement? Send a news
release or general information to omar.sacirbey@
mjbizdaily.com. (Note: We're looking for news about
expansions, financing, deals, partnerships and similar
developments, not product-related announcements.)
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MJBizMag April 2021
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