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Add-on Acquisition • Life Science

Tilray Acquires Aphria

On May 3, 2021, Tilray acquired life science company Aphria

Acquisition Context
  • This is Tilray’s 2nd transaction in the Life Science sector.
  • This is Tilray’s 3rd transaction in Canada.
  • This is Tilray’s 2nd transaction in Ontario.

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M&A Deal Summary
Date May 3, 2021
Target Aphria
Sector Life Science
Buyer(s) Tilray
Deal Type Add-on Acquisition

Target Company

Aphria

Leamington, Ontario, Canada
Aphria is an operator of a cannabis company with low-cost production of high-quality cannabis at scale, grown in the most natural conditions possible. Focusing on untapped opportunities and backed by the latest technologies, Aphria Inc. is committed to bringing breakthrough innovation to the global cannabis market. The Company’s portfolio of brands is grounded in expertly researched consumer insights designed to meet the needs of every consumer segment. Aphria was founded in 2013 and is based in Leamington, Ontario.
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Buyer Overview 1

Buyer

Tilray

Leamington, Ontario, Canada
Category Company
Sector Healthcare Services
Employees1,600
Revenue 821M USD (2025)
DESCRIPTION

Tilray is a medical cannabis company, involved in cultivating and delivering the medical benefits of cannabis safely and reliably. Tilray is based in Leamington, Ontario.

Deal Context for Buyer #
Overall 4 of 5
Sector: Life Science 2 of 2
Type: Add-on Acquisition 4 of 5
State: Ontario 2 of 2
Country: Canada 3 of 3
Year: 2021 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-20 Manitoba Harvest

Winnipeg, Manitoba, Canada

Fresh Hemp Foods Ltd. (Manitoba Harvest) is a provider of food products. Manitoba Harvest’s 100% all-natural product lineup includes hemp hearts, hemp protein powder, and hemp snacks and is currently carried in about 16,000 retail locations across the U.S. and Canada.

Buy CA$419M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-08 Breckenridge Distillery

Breckenridge, Colorado, United States

Breckenridge Distillery is an operator of distilled spirits platform widely-known for its bourbon whiskey collection and innovative craft spirits portfolio. Breckenridge Distillery is based in Breckenridge, Colorado.

Buy -

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