M&A Deal Summary

HEXO Acquires 48North

On May 17, 2021, HEXO acquired consumer products company 48North

Acquisition Highlights
  • This is HEXO’s 1st transaction in the Consumer Products sector.
  • This is HEXO’s 3rd transaction in Canada.
  • This is HEXO’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2021-05-17
Target 48North
Sector Consumer Products
Buyer(s) HEXO
Deal Type Add-on Acquisition
Advisor(s) Cormark Securities, Inc. (Financial)
Bennett Jones (Legal)

Target

48North

Toronto, Ontario, Canada
48North operates as a cannabis company in the health and wellness market in Canada. The company offers bath salts, intimacy oils, flowers, pre-rolls, body cream and oil, vapes, pressed hash, and accessories under 48North, Apothecanna, First Harvest, Avitas, F8, Trail Mix, and Latitude brands. It also provides LAT, a publication and creative platform that empowers women to connect, engage, and learn through their experiences with cannabis. 48North is based in Toronto, Canada.

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Buyer(S) 1

Buyer

HEXO

Gatineau, Quebec, Canada
Category Company
Founded 2013
Sector Medical Products
Revenue 191M USD (2022)
DESCRIPTION

HEXO is an award-winning consumer packaged goods cannabis company that creates and distributes prize-winning products to serve the global cannabis market. Through its hub and spoke business strategy, HEXO Corp is partnering with Fortune 500 companies, bringing its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory expertise to established companies, leveraging their distribution networks and capacity. As one of the largest licensed cannabis companies in Canada, HEXO Corp operates with 1.8 million sq. ft of facilities in Ontario and Quebec and a foothold in Greece to establish a Eurozone processing, production and distribution centre. HEXO was founded in 2013 and is based in Gatineau, Canada.

DEAL STATS #
Overall 3 of 4
Sector (Consumer Products) 1 of 1
Type (Add-on Acquisition) 3 of 4
State (Ontario) 2 of 3
Country (Canada) 3 of 4
Year (2021) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-16 Zenabis Global

Vancouver, British Columbia, Canada

Zenabis Global is a North American supplier of propagated agricultural plants growing and distributing vegetable, flower, berry and other plant seedlings. From its 34 acre production facility in Langley, BC, Zenabis supplies growers in Canada, the United States and Mexico. Zenabis Global is based in Vancouver, British Columbia.

Buy $235M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-28 RedeCan

Fenwick, Ontario, Canada

RedeCan is a Canadian cannabis company co-founded by Pete Montour, Will Montour, and Richard Redekop. With over 30 years in agriculture, Redecan’s tools are fresh water and sunshine, farming the way it has been done for hundreds of years. The Company’s proprietary growing methods are one-of-a-kind and are continually refined through the use of advanced technologies.

Buy $925M
Mergr

Product

Company

Legal