M&A Deal Summary

Tilray Brands Acquires HEXO

On April 10, 2023, Tilray Brands acquired medical products company HEXO

Acquisition Highlights
  • This is Tilray Brands’ 1st transaction in the Medical Products sector.
  • This is Tilray Brands’ 1st transaction in Canada.
  • This is Tilray Brands’ 1st transaction in Quebec.

M&A Deal Summary
Date 2023-04-10
Target HEXO
Sector Medical Products
Buyer(s) Tilray Brands
Deal Type Add-on Acquisition

Target

HEXO

Gatineau, Quebec, Canada
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.

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Buyer(S) 1

Buyer

Tilray Brands

Leamington, Ontario, Canada
Category Company
Founded 2013
Sector Consumer Products
Employees1,600
Revenue 627M USD (2023)
DESCRIPTION

Tilray Brands is a global cannabis-lifestyle and consumer packaged goods company with operations in Canada, the United States, Europe, Australia, and Latin America. Tilray’s mission is to be the trusted partner for its patients and consumers by providing them with a cultivated experience and health and well-being through high-quality, differentiated brands and innovative products. A pioneer in cannabis research, cultivation, and distribution, its unprecedented production platform supports over 20 brands in over 20 countries, including comprehensive cannabis offerings, hemp-based foods, and alcoholic beverages. Tilray Brands was founded in 2013 and is based in Leamington, Ontario.

DEAL STATS #
Overall 1 of 3
Sector (Medical Products) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Quebec) 1 of 1
Country (Canada) 1 of 2
Year (2023) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-18 Truss Beverage

Toronto, Ontario, Canada

Truss Beverage is a producer of cannabis products providing a variety of taste experiences for multiple beverage occasions. Truss Beverage is based in Toronto, Ontario.

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