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Announced

Altria-backed Cronos Group to acquire an 11% stake in PharmaCann for $110m.

Financials

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Transaction Value£78m
Consideration TypeCash
Capital Owned-
Capital Bid For11%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Pending

Private

Friendly

Acquisition

Single Bidder

Majority

Domestic

medical cannabis

cannabis products

Pharmaceuticals

United States

Synopsis

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Altria-backed Cronos Group, a diversified and vertically integrated cannabis company, agreed to acquire an 11% stake in PharmaCann, a provider of medical cannabis, for $110m. “Our US growth strategy focuses on delivering long term shareholder value by assembling a best-in-class brand and intellectual property portfolio and positioning to deploy our products in the US market through investments and opportunities with US leaders who share our vision and commitment to responsibly distributing disruptive cannabinoid products that improve people’s lives. We were attracted to PharmaCann as an investment because of their disciplined capital allocation, strong track-record and compelling licensed manufacturing and retail footprint," Kurt Schmidt, Cronos Group President and CEO.

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