M&A Deal Summary

Ayr Acquires CannTech PA

On November 27, 2020, Ayr acquired agriculture company CannTech PA for 57M USD

Acquisition Highlights
  • This is Ayr’s 2nd transaction in the Agriculture sector.
  • This is Ayr’s 5th largest (disclosed) transaction.
  • This is Ayr’s 2nd transaction in the United States.
  • This is Ayr’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-11-27
Target CannTech PA
Sector Agriculture
Buyer(s) Ayr
Deal Type Merger
Deal Value 57M USD

Target

CannTech PA

New Castle, Pennsylvania, United States
CannTech PA LLC is a cannabis multi-state operator in the Commonwealth of Pennsylvania including a 143,000 ft² cultivation and processing facility under development. CannTech PA is based in New Castle, Pennsylvania.

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Buyer(S) 1

Buyer

Ayr

Miami, Florida, United States
Category Company
Founded 2017
Sector Agriculture
Employees2,500
Revenue 464M USD (2023)
DESCRIPTION

Ayr is a cannabis operator focused on delivering quality cannabis products and customer experience throughout its footprint. Based on the belief that everything starts with the quality of the plant, the Company is focused on superior cultivation to grow superior branded cannabis products. Ayr strives to enrich consumers’ experience every day through the wellness and wonder of cannabis. Ayr was founded in 2017 and is based in Miami, Florida.

DEAL STATS #
Overall 2 of 12
Sector (Agriculture) 2 of 4
Type (Merger) 2 of 3
State (Pennsylvania) 1 of 2
Country (United States) 2 of 12
Year (2020) 2 of 4
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-04 Oasis Cannabis

Chandler, Arizona, United States

Oasis Cannabis is a vertically integrated operation in Arizona that includes three medical and adult-use dispensaries in the greater Phoenix area, a 10,000 ft2 triple-stacked cultivation and processing facility in Chandler, and an 86,000 ft2 cultivation facility under development in Phoenix. Oasis Cannabis is based in Chandler, Arizona.

Buy $75M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-18 Parma Wellness Center

Columbus, Ohio, United States

Parma Wellness Center is an operator of Parma company that holds a provisional level 1 medical marijuana cultivator license, with initial construction plans for 25,000 ft2 of canopy inside a 58,000 ft2 building. Parma Wellness Center is based in Columbus, Ohio.

Buy $17M
Mergr

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