M&A Deal Summary

HEXO Acquires Zenabis Global

On February 16, 2021, HEXO acquired agriculture company Zenabis Global for 235M USD

Acquisition Highlights
  • This is HEXO’s 1st transaction in the Agriculture sector.
  • This is HEXO’s 2nd largest (disclosed) transaction.
  • This is HEXO’s 2nd transaction in Canada.
  • This is HEXO’s 1st transaction in British Columbia.

M&A Deal Summary
Date 2021-02-16
Target Zenabis Global
Sector Agriculture
Buyer(s) HEXO
Deal Type Add-on Acquisition
Deal Value 235M USD
Advisor(s) Stikeman Elliott (Legal)

Target

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.

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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 2 of 4
Sector (Agriculture) 1 of 2
Type (Add-on Acquisition) 2 of 4
State (British Columbia) 1 of 1
Country (Canada) 2 of 4
Year (2021) 1 of 3
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-13 Newstrike Brands

Oakville, Ontario, Canada

Newstrike Brands Ltd. is a producer of cannabis that is licensed to both cultivate and sell cannabis in all acceptable forms. Newstrike is focused on growth; growing top quality cannabis, market share for its Up brand and shareholder value.

Buy CA$263M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 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.

Buy -
Mergr

Product

Company

Legal